Scots ‘oil tycoon’ reportedly among backers of local media venture in England and Wales

A Scots ‘oil tycoon’ is reportedly among the backers in a local media venture in England and Wales.

Writes Perry Gourlay, in today’s Scotland on Sunday: “Alasdair Locke has emerged as one of the backers of tabloid veteran David Montgomery’s latest media venture.

“Locke, who pocketed nearly £120 million from the sale of Aberdeen-based Abbot Group in 2007, is an investor in Local World which has brought together publishers Northcliffe, formerly owned by Daily Mail and General Trust (DMGT), and Iliffe News & Media.

“The group owns local papers across England and Wales 
including the Cambridge News, Hull Daily Mail and Leicester Mercury.

“As well as Locke and Montgomery, investors in the 
venture include DMGT and TrinityMirror, owner of the Daily Record and Sunday Mail in Scotland.”