British media company SMG said this morning it planned to sell its publishing business, including Glasgow-based newspapers the Heraldand Sunday Herald.
The company said in a statement it expected any deal to complete by mid-2003.
SMG, which owns Virgin Radio and Scottish Television, posted results showing pre-tax profit, excluding its online activities, fell 43 per cent to £11.5 million sterling (€18 million) in the six months to the end of June on turnover down 6.4 per cent to £131 million.