A leading businessman has called on the bosses of an island weekly to delay its proposed sale to publishing giant Newsquest to allow time for a local bid to be put together.

As reported by HTFP last month, the board of the Isle of Wight County Press are backing a bid by Newsquest to buy the paper.

Shareholders of the County Press Group are now being asked to approve the proposed deal, with a decision is expected in around a fortnight.

But the chair of the island’s development board, company director Norman Arnold, has now written to the paper’s bosses to ask for a two-month delay while a local bid is developed.

Mr Arnold said the County Press was an “island institution” and should stay locally owned.

No rival offer has so far been made for the 130-year-old title, but Mr Arnold is urging people interested in supporting a local bid for the papers to contact him via email on [email protected].

Said Mr Arnold: “The County Press stands alongside a handful of companies like Hursts and Vectis Ventures who are more than just local businesses – they are Island institutions. They understand the Island and they relate to Islanders.

“I fear that affinity with the Island will inevitably be lost if the CP is sold to Newsquest, a huge company that is known in the industry for being a profits-driven organisation that dispenses with traditional specialist roles such as specialist sub-editing.

“It is inconceivable that jobs currently carried out here by trained County Press staff – Islanders – will be lost and my fear is that quality will suffer as a result.”

“Everyone knows the media landscape is changing and more and more people are getting their news from non-print sources. The CP is no exception and it must adapt to survive.

“But I firmly believe that evolution can continue in a local context. The CP does not need to be run from the mainland by a media giant in order to survive and thrive.

“All we ask is that shareholders take a pause and allow us to develop a bid that I am sure can rival that of Newsquest and ensure the paper can retain the character that makes it so special.

“The County Press has an Island history going back over 130 years. I really hope the current shareholders can give us two months in which to secure its unique place as an Island institution.”

County Press Group chief executive Robin Freeman said: “We have received no specific proposals from Mr Arnold and are unable to comment further.”  Newsquest has declined to comment.

Mr Freeman has previously said: “The board of the IWCP Group strongly believe that this is the best way forward for our group of companies. Newsquest are a very well-respected and highly professional group and I very much hope that the next chapter of the CP’s life will be as part of their group.”