The Scotsman and Yorkshire Post owner was bought on 31 December for £10.2m by former Local World boss David Montgomery who has begun implementing a new localised strategy for the group. The next biggest recipients of furlough cash in December were The Guardian, Archant and Midland News Association which all received between £50,000 and £100,000. The Guardian instigated plans in July to cut 12% of its workforce as it expected a £25m revenue hit because of the Covid-19 pandemic. Advertising, Guardian Jobs, physical events and print were the hardest hit areas of the business and at that time about 100 staff were on furlough. At the time it said the endowment fund which underwrites its losses had shrunk from £1.013bn to £954m.