A potential buyer has come forward for the Eskdale and Liddesdale Advertiser after it was offered up for a “nominal amount” by current owners CN Group last month in lieu of it folding.
The title, which has a circulation of 1,200 copies in the town of Langholm in the Scottish borders and an editorial staff of two, had not been in profit “for some time” according to CN Group.
The publisher has agreed to continue printing the paid-for weekly newspaper, which was due to have its final edition this month, into the New Year to allow time for the deal to be agreed.
The buyer is a Langholm-based Community Interest Company that is being formed expressly for the purpose of running the newspaper.
It is hoped the deal will be concluded in April, subject to adequate funding being established and an agreement formalised.
Three staff at risk of redundancy, including two editorial staff, have been asked to continue to produce the paper and its website while negotiations are ongoing.
David Helliwell, editorial director for CN Group, said: “Our hope at the start of this process was that there would be interest in keeping the E&L alive. It’s been heartening to see the support for the newspaper and its staff and we will do all we can to see this potential sale through to a successful conclusion.”
Langholm businessman David Stevenson, who would be a director of the CIC, said: “Cumbrian Newspapers have been very supportive of our interest and have agreed to continue publication while we raise the funds for this venture and consult the people of Eskdale and Liddesdale on the future format of their community newspaper.”