JPIMedia, the U.S.-based consortium of hedge funds that owns The Scotsman, Evening News and Scotland on Sunday,is closing half the floorspace at the papers’ main office in Edinburgh, Scotland, Daily Business reported.
JPIMedia is aiming to have the “right space requirements for current and future needs,” according to Daily Business. The two floors the company filled at Orchard Brae in Edinburgh will be cut to one.
The company is considering more subscription-based models for its 200 U.K.-based titles including, it appears, launching an online paywall, Daily Business reported.
The move comes amid speculation that JPIMedia may break up the business, Daily Business reported.