The Scotsman owner National World agrees to £65.1m takeover

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The recommended deal comes after National World rejected a previous potential offer from Media Concierge, worth £56.2 million, or 21p per share, which was put forward last month. Media Concierge has given assurances not to make “material” job losses across editorial and production teams, which account for around two-thirds of employees at National World, or to close any local news brands. “However, Media Concierge has not yet developed any firm intentions in this regard.” Media Concierge added: “No proposals have been developed as to how any such reduction will be implemented, but Media Concierge would approach any such plans in an open and transparent manner.” Media Concierge intends to invest in the company’s editorial output and preserve the nature of local journalism, and as a result does not intend to close down local newsbrand locations Media Concierge It also plans to shift National World’s headquarters from Leeds to London, but retain the office in Leeds and not shut any locations across the UK. Media Concierge said it “believes that National World’s performance will be enhanced as a private company under new ownership as part of an enlarged Media Concierge Group”.