Johnston Press, the fourth-largest regional newspaper publisher in the UK,has announced increased profits of £49.8 million for 1999.

Its end of year report also highlighted the group’s acquisition strategy. Thetakeover of Portsmouth & Sunderland Newspapers had been successful, it said,while it expected a decision from the Competition Commission on the proposedacquisition of Newscom by early April.

The group has also pledged to invest in new media, quadrupling last year’s expenditure on Internet ventures.

Roger Parry, chief executive of Clear Channel International, will take the title of non-executive chairman from April next year.

Current chairman Fred Johnston is retiring but will retain a seat on theboard.

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