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The decision was taken by Ashley Highfield, the new chief executive of Yorkshire Post publisher Johnston Press, the UK's second largest regional newspaper company.
Johnston Press, the second largest regional newspaper publisher with 238 titles, said that the rate of decline in total advertising had improved as the first half of 2012 has progressed.
The UK's second largest regional publisher cut just under 670 jobs last year, or about 11% of its workforce, and is currently embarking on a major overhaul of its 255 newspapers including turning a number of daily titles into weeklies.
Highfield, the chief executive of the UK's second largest regional newspaper publisher, also plans new daily iPad apps for all the company's bigger titles, revamped websites with greater use of social media, and new mobile sites for all paid-for papers.
Chittagong is the second largest regional economy of the country.
Birmingham is currently England's second largest regional airport after Manchester, serving 9.6m passengers a year.
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Johnston is the fourth largest regional newspaper publisher by circulation with some 200 titles, including The Scotsman and the Yorkshire Post.
He starts his new role at Archant, the fifth largest regional newspaper publisher in the UK, on 16 November.
Archant, the eighth largest regional publisher by weekly circulation, publishes four dailies, including the East Anglian Daily Times and Eastern Daily Press, plus some 60 weeklies.
Johnston Press, the fourth largest regional newspaper group, today bucked the continuing media slump with a healthy increase in revenues over the last year.
Local World, founded by Montgomery, publishes 115 titles, and is the third largest regional publisher by circulation, after Trinity Mirror and Newsquest, and just ahead of Johnston Press.
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