Archant has said it has no plans to dispose of further newspapers following the completed sale of its Scottish division to Johnston Press this week.
The sale of the £11.2 million business, on a debt free basis, had been subject to clearance by the Office of Fair Trading.
The acquisition includes eight weekly newspapers; three paid-for newspapers in the Northeast of Scotland around Peterhead and Fraserburgh; and five free papers in central Scotland around Glasgow, Ayrshire, Lanarkshire and Paisley.
Archant issued a statement saying it is looking to develop its operation in England, while investing in its magazine division.
Chief executive John Fry (above) added: “It has been an unsettling time for the staff in our Scottish business but they have turned in excellent performance both prior to the transaction and during a period of uncertainty.
“This is a credit to their commitment. We will be sad to see them leave Archant where the Scottish business has been a rich and vibrant part of the ‘family’ but they will have more opportunity as part of Johnston Press, which is expanding its activities in Scotland.”
Revenues of £6.95 million were generated by the Scottish business in the year ended December 2006.