Two local regional newspapers – The Leitrim Observer and Longford Leader – are among those reportedly being sold by their parent company.
The sale price is thought to be in the region of €8.5 m for a large number of titles in the Johnston Press group -a massive reduction on the €150m all the titles are believed to have originally cost.
The Leitrim Observer and Longford Leader are among the newspaper titles that form Johnston Press regional division in southern Ireland and are part of a sale process that is currently under negotiation with British millionaire businessman Malcolm Denmark.
It is believed the sale may include the majority of the 14 titles the group publishes in Ireland among which are the Leinster Leader group, Leitrim Observer, Longford Leader, Kilkenny People, Limerick Leader group, South Tipp Today, Nationalist and Munster Advertiser and Donegal Peoples Press.
Industry sources are measuring the loss that Johnston Press could incur on the sale, as a sign of the fall of the regional press sector in Ireland which has seen massive drops in circulation with advertising volumes and rates also decreasing dramatically in recent times.