A nice present for Johnston Press CEO Ashley Highfield would be someone to re-negotiate the company's debt burden.
Ashley would like us all to note the success of the iNewspaper, now apparently bringing £1m a month into the company coffers. Let's remember he paid £24m for the asset, and the company has an outstanding bond of £220m which becomes payable early in 2019. Next year, Johnston Press will be bolstered by 30 'local democracy' reporters, paid for out of our licences fees - I'm guessing that's worth at least £1m. Meanwhile, irritating our Ashley from the sidelines is Norwegian disrupter Christian Ager-Hanssen and his Custos group. JP shares started the year around 13p each - they look set to end at around 12p - market capitalisation just under £14m.
If he can't get the big loan re-negotiated, Ashley might at least like a permanent company chairman. Camilla Rhodes has been in the role as interim since January.
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