Scottish Provincial Press under new ownership

One of Scotland's largest publishers of local newspapers is under new ownership after briefly going into administration.

Administrators were called in by Scottish Provincial Press (SPP) on Tuesday morning.

But a new company - Highland News and Media Ltd - has been formed to take over the business.

The move secures the jobs of 135 people and ensures the survival of 18 local newspapers.

This includes the Inverness Courier.

The new company is a joint venture between SPP's former majority shareholder Peter Fowler and Cambridge-based Iliffe Media.

Edward Iliffe said: "This is the second joint venture arrangement that Iliffe Media Group have entered into with Peter and Rory Fowler, following the acquisition of the Newbury Weekly News earlier this year.

"Whilst Highland News and Media will continue to operate with a high degree of autonomy, we will continue recent moves to share expertise where relevant and seek efficiencies that will help secure a profitable future for both organisations".