SHARES in Johnston Press jumped by 14 per cent yesterday after the publishing company announced that it has extended its printing deal with Trinity Mirror for a further three years.
The deal will see Johnston Press titles The Scotsman and Scotland on Sunday continue to be printed at Trinity Mirror’s site in Cardonald until December 2020.
Trinity will also continue to print Johnston Press’s flagship i newspaper - which it bought from London Evening Standard owner ESI Media in April 2016 - while Johnstone Press will print Trinity Mirror’s regional titles for the same extended three-year term.
According to Johnston Press chief executive Ashley Highfield the company has negotiated “improved terms for printing the i newspaper, including operational benefits and improved commercial terms”, although the company did not reveal what these are.
“It is important, in this current media climate, to look for ways to work together to stabilise and strengthen relationships in the UK newspaper market,” Mr Highfield said.
“We are therefore delighted to confirm that we will be working with Trinity Mirror for a further three years, in a mutually supportive printing arrangement.
“The operational benefits are important and will be particularly helpful as we look to develop the Saturday issue of the i newspaper.”
Johnston Press’s shares were boosted by the news, climbing from 11p to 12.5p yesterday.
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