Weekly newspaper group saved at last minute by Spanish investor
ACONTROVERSIAL weekly newspaper group has been saved at the last minute after previously announcing that it had gone to print for the last time.
Herald News (UK) Ltd, the publisher of the Pembrokeshire Herald, said on Friday, October 18 that it had ceased operations.
The weekly paper was launched in 2013 and spawned sister titles in Carmarthenshire and Ceredigion as well as the Llanelli Herald.
Based in Milford Haven, the paper’s editor, Thomas Sinclair, said that he was “absolutely devastated” at the paper group’s apparent demise.
However, on Monday the group announced that its future had been secured thanks to a deal with a Spanish investor, and while it was thought that 24 staff members would lose their jobs, the company now hope that at least 10 workers will remain in their positions.
The deal struck to save Herald News UK Limited – which has been described as a “six-figure cash-forshares agreement” with Spanish firm Rigographic Espana – will see the Pembrokeshire Herald continue in its print and online forms. The Carmarthenshire Herald and Llanelli Herald, however, will become onlineonly.
CEO of Rigographic Espana, Ricardo Rigobon, said: “As a campaigning newspaper, the Pembrokeshire Herald has served its customers well over the last six and a half years. Its circulation is strong, and the website is extremely popular.
“I believe with the new reduced costs business model we can secure the future of the newspaper.”
Managing Director of Herald News UK Limited, John Hammond, said: “We have worked tirelessly over the weekend to get the necessary financing in place since our original investor pulled out.
“As a result of those efforts, we have now got a new partnership with a long-established firm in our industry.”
The newspaper group has courted controversy in the past few years.
In May 2017, editor Thomas Sinclair was found guilty of publishing information likely to lead to the identification of a sexual offence victim, thus contravening the law laid out in the Sexual Offences (Amendment) Act 1992, which grants lifetime anonymity to such victims.
He was fined £1,500 for breaching the Act and ordered to pay £1,500 in compensation, as well as costs of £500 and a victim surcharge of £150.
Speaking after the deal to keep the Herald group trading was announced, Mr Sincliar said: “I am excited that we have been given a new opportunity.
“It’s not a time for celebration as we still have colleagues who have lost their jobs.
“However, for the remaining team we now have a get on with the job of reporting the news and getting the papers out each Friday.”