The Observer Standard Newspapers group, founded by free newspaper entrepreneur Chris Bullivant, has been bought out of administration, HoldtheFrontPage reports today.
It has been sold for an undisclosed sum to Bullivant Media Limited, a company associated with Bullivant, previously chairman of Observer Standard Newspapers.
Bullivant told me: "I'm delighted that we will be able to look after our people. It has been horrible for them worrying about the next pay day." He said he will have to look at some rationalisation across the new company.
Observer Standard Newspapers was founded by Bullivant in 1989 and publishes weeklies, magazines and websites. It was put into administration last month. It is understood that a major regional publisher also put in a bid to the administrators.
Bullivant last month broke ranks with the big regional newspaper companies by putting in a submission to the Office of Fair Trading arguing against a relaxation of the media merger rules as applied to the local press. He claimed such a move would lead to the regional press being dominated by two giant groups.
No comments:
Post a Comment