The Scotsman Editor Frank O’Donnell writes to readers after the news that the owner of the newspaper was placed into administration on Friday.
You may have seen or heard reports over the weekend that the owner of The Scotsman was placed into administration.
Today we can confirm that we are owned by a new operating company - called JPIMedia - under a new financial arrangement that safeguards this newspaper and website.
Johnston Press had been conducting a strategic review of its finances over the past 18 months to restructure its debts and assets.
This weekend saw the company placed into an administrative process, and acquired by those who previously owned our debt.
This is good news for all Johnston Press titles as it safeguards our newspapers and websites. It also continues the employment of all our staff and helps us to have a more stable and secure future.
Our journalists will continue to report on the stories you would expect us to. There will be no change to our editorial policies, the values we hold, the editorial independence of The Scotsman or our commitment to the Editor’s Code and IPSO guidelines.
While this review has been taking place our journalists and commercial staff have continued to operate as normal, bringing you the quality news, sport and information you expect of us. Nothing has changed about that today.
My commitment to our readers, newsagents and retailers is that we will continue to serve you in the best way we can, with the quality you would expect and to nurture the unique community relationship we have with you.
We value the trust you have in our content very highly and rely on you, our readers and customers, to support us and our industry.
You will be well aware of the challenges our industry faces. We still face those challenges today. You can support us through continuing to buy our titles, visiting our websites and advertising in our products.
Any subscribers with prepaid vouchers and retailers with subscribers who use vouchers to pay for their newspapers should handle them as normal.
Thank you for your support and kind messages over the weekend as we entered and emerged through this process.
Frank O’Donnell, Editor