May 9 Johnston Press Plc, publisher of "The Scotsman" and "The Yorkshire Post", unveiled a 360 million pound ($610 million) capital refinancing plan on Friday that it hopes will restore revenue growth.
The company also announced an advertising partnership with British Sky Broadcasting Group.
Edinburgh-based Johnston Press said adjusted group revenues declined in the mid-single digits in percentage terms in the 17 weeks to April 26, hurt by lower circulation and print advertising revenue.
Digital revenue, however, rose during the same period. ($1 = 0.5899 British Pounds) (Reporting by Noor Zainab Hussain in Bangalore; Editing by Robin Paxton)