News / Shetland Times future ‘far from certain’ as it goes up for sale
THE SHETLAND Times has been put up for sale.
The family-owned business, which includes a weekly newspaper, printing firm, website, publishing company and bookshop in Lerwick, was started in 1872 and celebrated its 150th anniversary in 2022.
Staff were told the news by owner and company director Robert Wishart earlier this week.
In an editorial in today’s newspaper, the paper said its future looks “far from certain”.
“If new owners cannot be found for the newspaper there is a risk that Shetland will lose its only weekly newspaper,” Wishart said.
“I think this would be catastrophic for the community and, of course, for all the employees of the company.”
A number of staff have left the company in recent months, with editor Alistair Munro departing in March after four years in the job.
Chief executive Colin Grant is also believed to be leaving his post in the coming weeks.
Munro’s replacement as editor is understood to have been told this week there is no longer a job for him in Shetland, weeks before he was due to start.
The Shetland Times said in today’s (Friday) editorial that a “presumption that news should be provided for free online” had seen sales of paid print publications “plummet”.
It said it had “fared better than many newspapers” in recent years, surviving where others had not.
“But despite weathering the pandemic, inflation and changing trends, paper sales and advertising are not what they once were,” the paper said.
“It has become difficult to balance the books.”
Staff are understood to have been told this week that the company is seeking a sale within the next four weeks.
The Shetland Times employs around 35 staff.
Become a member of Shetland News
Shetland News is asking its readers to consider paying for membership to get additional perks:
- Removal of third-party ads;
- Bookmark posts to read later;
- Exclusive curated weekly newsletter;
- Hide membership messages;
- Comments open for discussion.
If you appreciate what we do and feel strongly about impartial local journalism, then please become a member of Shetland News by either making a single payment, or setting up a monthly, quarterly or yearly subscription.
Already a member? Sign in to hide this message.
