Thursday 11 December 2008

Trinity and Johnston fall out of FTSE

As expected Trinity Mirror and Johnston Press have dropped out of the FTSE 250, after the dramatic fall in their share prices over the past 12 months. Yahoo! Finance gives Trinity Mirror a market capitalisation today of £134 million and Johnston of £84 million. To put this is perspective, remember the premium prices regional newspapers used to fetch. In 1994 Northcliffe paid T. Bailey Forman £93 million for the Nottingham Evening Post. Johnston bought Regional Independent Media, which included the Yorkshire Post and related titles, in 2002 for £560 million. It followed that with a £160 million deal to buy The Scotsman titles from the Barclay brothers in 2005. What are they all worth now?

1 comment:

Nigel Barlow said...

The rise and fall of Johnston Press has been particularly dramatic.

A case of over borrowing to fund growth