Buyer found for weekly newspaper titles in administration
Chris Newell, a partner at corporate recovery and business advisory firm Quantuma, has been appointed administrator to Capital Media Newspapers Ltd, a London and Dorset weekly newspapers group, and has successfully sold some of the titles, saving the majority of the jobs in the business
20 Jul 2017
In January 2016, a team of local managers acquired a range of titles via a management buyout and established Capital Media Newspapers Ltd which operated from Penge in London, and Lyme Regis in Dorset.
The titles acquired included the South London Press, a bi-weekly newspaper first published in 1865, and the Greenwich Mercury, which dates from 1933. The company also published the London Weekly News series, Pulmans Weekly News in Dorset and the ‘View from’ titles based in Lyme Regis.
Following the administration, the South London Press has been sold to Street Runners Ltd which is based in Little Heath, Romford. The Dorset and south west titles have been sold to Sunday Independent owner Peter Masters who is also chairman and co-owner of Truro City Football Club.
Titles which are still for sale include the Kensington & Chelsea News, Westminster & Pimlico News, Fulham Chronicle, Hammersmith Chronicle and Shepherd’s Bush Chronicle.
Newell, administrator and partner at Quantuma, said: ‘I am pleased to report that we have been able to achieve two separate sales to third parties which has resulted in the majority of jobs being saved.
‘There are various London titles which have not yet been sold which we are open to offers for and would welcome serious expressions of interest.’