U.K. Johnston Press for sale

The U.K.’s Johnston Press is for sale and may have a buyer in Norwegian entrepreneur Christen Ager-Hanssen.

The company is one of the biggest newspaper organizations in the U.K., publishing papers including the “I,” The Scotsman and the Yorkshire Post. 

It has been struggling with £220m in debt (around $285 million).

Ager-Hanssen’s private equity firm Custos has raised its shareholding from about 20 percent to more than 25 percent, the BBC reports. 

Ager-Hanssen has strongly criticized the board’s management, saying the board has done "nothing more than rearranging the deck chairs on the Titanic."

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