"The Board considers that the successful implementation of the Future Strategy, in combination with the implementation of the Capital Refinancing Plan, will provide a platform from which the Group can return to overall revenue growth and generate increased surplus cash flow with a view to further deleveraging the Group and re-investing some of that surplus cash to grow its digital presence further. Meanwhile, Johnston Press has formed a strategic partnership with Sky, which has separately agreed to invest £5m in the regional newspaper publisher via the placing and rights issue. The partnership combines Sky's new localised TV advertising product, Sky AdSmart local, with Johnston Press's range of regional print titles and digital platforms to enable SMEs to incorporate TV ads focused on specific local markets into their print and digital campaigns.