Veteran newspaper entrepreneur Sir Ray Tindle has sold part of his newspaper empire to local managers in what he is calling a “ground-breaking deal.”
The 90-year-old has built up a portfolio of nearly 200 local newspapers across the UK, but has now passed on the ownership of some of his London and Dorset titles to the people who run them.
Sir Ray says the deal is designed to ensure the future of the papers which include some of the oldest in the country.
Although he insists the deal does not signal his retirement, he hinted in a statement to staff that he has now begun the task of reshaping the group.
“I don’t intend to retire. I shall continue with vice-chairman Wendy Craig to run almost the entire Tindle Newspaper Group but I must, this year, start to make changes so that all the papers will continue in good hands for many years ahead,” he said.
“My son, Owen, has his own successful business which he launched from scratch just as I did. He will inherit the newspaper group which he helped me to found but it needs to be of a size and shape so that he and Wendy can cope without affecting Owen’s business.”
Individual titles affected by the deal include the nine edition SLP, the Fulham, Hammersmith and Shepherd’s Bush Chronicle, the Kensington & Chelsea News and the Westminster & Pimlico News.
Philip, who launched the View From series in 2005 before it was bought out by Tindle, said he was looking forward to the new challenge.
“Having managed local newspapers in London earlier in my career, I am looking forward to the challenge of working alongside Karen and Hannah in continuing to build our stable of titles in the capital as well as retaining my Dorset links with Pulman’s Weekly News and the View From series, which I launched in 2005.
“All three of us share Sir Ray’s undeviating faith in the future of local newspapers and we are excited by the opportunity he has given us and the talented staff we will lead.”
Karen, managing director of the South London Press for the past 18 months said: “This is an extraordinary opportunity, one which I embrace whole heartedly.
“I look forward to continuing the successful programme of change and improvements the team have been working on for the past 12 months, building on the launch of new titles in central London and enhancing the reputation of the South London Press as one of the capital’s iconic local newspapers with 150 years of history behind it.”
Hannah, who has edited the South London Press for the last 16 years and who began her career as a reporter nearly 30 years ago in Birmingham, said she could not wait to get started.
“It’s always been a huge privilege editing these papers in South London and now to have the chance to steer them further to a healthy future is a huge challenge and opens up yet another new era for these fantastic titles and the brilliant staff that work for them,” she added.