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The Yorkshire Post, National World will take control of the Scotsman, the Sunderland Echo, the Sheffield Star and the YP’s sister title, the Yorkshire Evening Post.
In an update to shareholders, National World said the acquisition of JPIMedia totalled £10.2 million. Of this sum £5.2 million will be satisfied in cash on completion. There will be two deferred payments of £2.5 million each on March 31, 2022 and March 31, 2023.
National World also said it will provide £6.5 million working capital facilities to JPI Group after completion.
National World is led by David Montgomery, who has worked in the news industry for decades, including as editor of the News of the World and as chief executives of Mirror Group and Local World.