Former Mirror Group chief executive confirms he is in talks to buy Yorkshire Post owner
Former Mirror Group chief executive David Montgomery has confirmed he is in talks to buy JPI Media’s regional titles, which include the Yorkshire Post.
Montgomery listed National World, his new company, on the London Stock Market in September and owns over 75% of its shares. He said it was focussed on becoming a "technology-driven news publishing business”.
JPI Media, which owns more than 150 titles, was formed by creditors when Johnston Press went into administration last year.
Last week it sold one asset, the i newspaper, to the Daily Mail and General Trust for £49.6m.
And now a statement from National World has confirmed it is interested in buying up the remaining titles.
“The company confirms it is contemplating several acquisitions and has approached JPI following speculation that the sales process for the regional titles had not completed," it said.
“There is no certainty that any transaction will proceed. A further announcement will be made as appropriate in due course.”
Reach, the UK’s largest publisher and owner of the Manchester Evening News and Liverpool Echo, last week confirmed it was “no longer in active discussions” to buy any of JPI’s regional titles.