Press Gazette solution sought

A solution is still being sought for the ownership of Press Gazette,
which is expected to go into administration today. The proposal to put
the title into the hands of the industry, outlined on our front page
last week, is continuing to move forward. A majority of the national
newspaper groups have expressed a commitment to work together to
explore ways to make the proposal work, and expressions of interest
have also been made by significant players from the regional press and
magazine publishing world.

Last week, an outline proposal was
sent by editor Ian Reeves to around 50 major journalism employers,
setting out a structure of ownership which would allow the industry to
collectively own the title, but ensure that its editorial integrity was
not compromised. Several other companies have also come forward to
express their interest in becoming involved.

Reeves said: "I'm
encouraged by the enthusiasm of some of the industry's key players to
develop a solution that maintains Press Gazette's editorial
independence while putting it on a firm financial footing. But time is
now short. I'd also like to thank those who have sent personal notes of
support for the team."

A sale of the business to other interested
parties is also still possible while the company, Press Gazette Ltd, is
in administration.