Following Johnston Press’s £212m rights issue yesterday, the Financial Times today cites Archant chief executive John Fry as “an obvious choice” to take over the Edinburgh-based publisher when CEO Tim Bowdler steps down next year.
In a comment piece the paper says: “The real trick will be raising [the company’s] online game. It must recruit somebody with a record in monetising the internet. John Fry of Archant, whose linking of print and web platforms is a model for the industry, would be an obvious choice.”
Johnston’s share price took a big hit following news of the rights issue, ending trading yesterday down 20.5p to 115.25p, close to its 52-week low of 109.5p.
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