White knight for P&S newspapers
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Your support makes all the difference.A CONSORTIUM of investors led by Charles Villiers, former head of Scottish Radio's newspaper division, emerged yesterday as one of at least four potential white knights willing to rescue Portsmouth & Sunderland newspapers from Johnston Press. Talks have taken place with Charles Brims, the chief executive of P&S, and the consortium has the resources to top Johnston's offer, Mr Villiers said.
Johnston acquired a 14.99 per cent stake last Friday at 1,600p and has issued a tender offer at the same price for a further 10 per cent, which closes on Saturday. The shares were flat at 1,687.5p.
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