Friday 28 April 2017

Trinity Mirror in talks to buy billionaire Richard Desmond's UK newspapers

Richard Desmond
Richard Desmond
Donal O'Donovan

Donal O'Donovan

The company that publishes the Mirror newspaper is in talks to buy billionaire Richard Desmond’s UK newspapers, reviving talks from two years ago that had failed to produce a deal.

 Talks are at an early stage, Trinity Mirror said in a statement. It may buy a minority stake in a new joint venture that would own assets from Mr Desmond’s Northern & Shell Media Group Ltd.

Northern & Shell owns the Daily Express, Sunday Express, Daily Star and Daily Star Sunday.

Bloomberg News reported on Monday that Mr Desmond was looking to sell his UK tabloids to Trinity Mirror, including one option of a minority stake sale.

No offer has been made and there is no certainty that an agreement will be reached, Trinity Mirror said in response to press reports. Trinity Mirror shares rose 2.6pc to 100 pence each in London after the news.

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