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Archant agrees £100m funding deal

Archant could soon be adding to its portfolio after agreeing a £100m funding facility with the Royal Bank of Scotland.

The money will allow the group to complete its recent £52m share buy-back plans, and says its will also support its aims for expansion.

The deal extends and increases the funding provided by the bank in November 2003, before it bought 27 weekly newspapers from Independent News and Media.

The group currently publishes the East Anglian Daily Times, Eastern Daily Press, Norwich Evening News and Ipswich Evening Star, as well as more than 85 weekly papers, and also owns three magazine companies, which between them produce around 60 magazines.