A weekly newspaper has been sold to a new owner weeks after its previous boss warned it would close unless a buyer was found.

The Shetland Times is now under the ownership of independent publisher Highland News and Media, securing the jobs of five journalists and two advertising staff.

The sale comes weeks after the Times’ previous owner Robert Wishart warned that it faced potential closure after 153 years of publication.

It will now become part of the HNM portfolio which already includes the Inverness Courier, John O’Groat Journal, Ross-shire Journal and Northern Scot.

Highland News and Media managing director Steve Barron, pictured, said “The Shetland Times is an excellent local newspaper which passionately represents and champions the community it serves – credit to long-term owners Robert and June Wishart who have clearly been committed to local journalism and the Shetland community.

“These values are closely aligned with our own.

“The method of consumption may be changing but local news is as important as ever.  By supporting our new colleagues in Shetland we’ll make sure that their important work continues.

“Our team is excited to add a well-respected local newspaper to our portfolio.”

The deal ends the Wishart family’s 131-year connection with the newspaper.

Said Robert: “A few weeks ago I feared that not only our family ties to the paper but the newspaper itself was finished.

“Now I’m delighted that Steve Barron and Highland News and Media have raced to ensure continuity of production following our abrupt decision to end printing of the paper at Gremista.

“It’s quite an achievement and gives the paper a new lease of life.”

The change of ownership means that from next week the Times will be printed on the mainland in full colour and in a more compact size.

In many parts of the Shetlands it will also be on sale a day earlier, at the same time as Thursday’s daily newspapers.

The National Union of Journalists has welcomed the purchase of the Shetland Times by Highland News and Media, guaranteeing the future of the 153 year-old newspaper.

Its national organiser for Scotland, Nick McGowan-Lowe, had raised the paper’s plight at a lobbying meeting with MSPs at Holyrood yesterday as an example of the need for a Scottish Public Interest Journalism Institute.

Said Nick: “All newspaper publishers, whether in Lerwick, London, or Leeds have been facing significant challenges with declining circulation and difficulty with switching income streams from print to digital.

“However, it’s to the credit of the Shetland Times management that they have refused to compromise on their staffing or their journalism and so have seen year-on-year declines around half that of much larger newspaper groups who have slashed jobs and rehashed stories.

“We welcome the announcement that Highland News and Media has purchased the title, and the assurance given to staff that they do not intend to cut editorial staffing. During this process we have engaged with staff, the owners, and local politicians in making sure Shetland has a diverse media. We will now be speaking to the new owners, where we already have an active chapel, and seeking assurances on jobs and quality of journalism.

“In addition, this potential closure of a valuable public interest journalism news provider makes the need for a properly funded Scottish Public Interest Journalism Institute even more urgent.”