Press firm ‘plans
£75m rights issue’

Johnston Press, owner of The Yorkshire Post and The Scotsman, is planning a £75m rights issue in an attempt to cut its massive debt pile, according to reports.

The rights issue is expected over the next few weeks following a turnaround of the business under Ashley Highfield, who took over as chief executive of the firm in 2011.

Shares in the group, which owns 200 newspaper titles, have risen from 16p to over 26p since the start of the year.