Johnson Press owns the i newspaper, bought from Evgeny Lebedev two years ago. It appeared to be profitable then, and Johnson were promised contributions from The Independent's journalists as part of the deal, a pledge that Lebedev has honoured only in part according to the new proprietors. I still read the Saturday i, mainly for the Inquisitor cryptic crossword puzzle, so I was concerned when the news came through firstly that Johnson had put itself up for sale, and then that, no buyers having come forward, had gone into administration. The latest is that the major creditors have bought the company out of administration, with a promise that funds will be put in to keep it as a going concern.
However, the threat to the i is trivial compared to that to the bulk of Johnson titles, which are mostly local - indeed, probably the only papers serving many localities throughout Britain. There are also some venerable publications in the stable, like the Yorkshire Post and the even older Belfast Telegraph which claims to be the oldest newspaper in the world still being produced.
The situation is sufficiently serious for Opposition Shadow Minister Tom Watson to ask an Urgent Question in the Commons today. To be fair to the government, minister Jeremy Wright appeared genuinely concerned. He encouraged interaction with Dame Frances Cairncross who is currently heading an inquiry into the sustainability of journalism. There may even be a serious attempt to tackle the resort to "pre-pack" administrations which curtail the rights of creditors and of minority shareholders. Doubt also surrounds the pensions of those Johnson journalists who have already retired.
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