Ashurst and MacRoberts advise on sale of i newspaper as Independent ceases print
Ashurst is advising long-standing client Johnston on the acquisition as sister title announces it will drop print edition
February 12, 2016 at 09:44 AM
3 minute read
The original version of this story was published on Law.com
Both Ashurst and MacRoberts have landed roles advising on Johnston Press' purchase of the i newspaper, sister publication of the Independent, from its Russian owner.
Ashurst is advising long term client Johnston Press on its acquisition of the paper believed to be worth around £24m.
Corporate partner Karen Davies is leading the Ashurst team for Johnston, advising the company on shareholder approval issues. She also led the firm's team that advised Johnston on its £360m refinancing plan in 2014. Fellow corporate partner Adrian Clark also worked on that deal.
Corporate partner Alan Kelly from Scottish firm MacRoberts is working alongside Ashurst, advising on the terms of the i acquisition.
The i newspaper is owned by ESI Media, which is controlled by Russian businessman Evgeny Lebedev. He has turned to London firm Tulloch & Co for advice on the sale of i with the firm fielding a team led by corporate partner Bruce Gripton.
The i has an average circulation of 268,000 and was launched in 2010 with a cover price of just 20p.
The sale comes as there is much change at the publisher with it also announcing today that the Independent is to stop producing a print edition next month. The end of print is set to result in a raft of job cuts at the title.
Both
Corporate partner Karen Davies is leading the
Corporate partner Alan Kelly from Scottish firm MacRoberts is working alongside
The i newspaper is owned by ESI Media, which is controlled by Russian businessman Evgeny Lebedev. He has turned to London firm Tulloch & Co for advice on the sale of i with the firm fielding a team led by corporate partner Bruce Gripton.
The i has an average circulation of 268,000 and was launched in 2010 with a cover price of just 20p.
The sale comes as there is much change at the publisher with it also announcing today that the Independent is to stop producing a print edition next month. The end of print is set to result in a raft of job cuts at the title.
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