Johnston Press has acquired Archant’s Scottish Newspaper operation for £11.205 million.
The acquisition includes eight weekly newspapers; three paid fors in the North East of Scotland around Peterhead and Fraserburgh and five free papers in central Scotland around Glasgow, Ayrshire, Lanarkshire and Paisley.
The deal is yet to be cleared by the Regulatory Authorities and consultation with staff is due to begin imminently.
Johnston Press chief executive Tim Bowdler said: “We are delighted to have been able to reach agreement with Archant to acquire these titles.
“This is an attractive portfolio of weekly newspapers which fits well with our existing titles in their respective areas.
“We look forward to working with the Scottish Archant publishing team to build on an already successful business for the benefit of readers and advertisers in the local communities they serve.”
In the year ended 31 December 2006, the business generated revenues of £6.95 million.