Trinity Mirror revenue down as Daily Express talks continue
The publisher of the Daily Mirror newspaper has posted a decline in third-quarter revenue as talks to acquire Daily Express owner Northern & Shell continue.
Trinity Mirror revealed an 8pc fall in like-for-like revenue in the period as publishing revenue fell by 9pc and print declined by 10pc.
Print advertising and circulation revenue fell by 16pc and 7pc respectively, although digital revenue grew 4pc.
The group said it is experiencing "improving trends" in nationally sourced print advertising revenues, but added that local advertising, particularly classified, remains "challenging and volatile".
Last month the firm confirmed discussions were under way to buy Northern & Shell, which also houses the Daily Star.
On Monday, Trinity said: "Further to the announcement made on 8 September 2017, the group continues to make progress on discussions to acquire 100pc of the publishing assets of Northern & Shell. Further updates will be made when appropriate."
Northern & Shell is owned by Richard Desmond, who acquired the titles in 2000 for £125m (€140m), although it is unclear how much a deal would be worth today.
The print media industry is grappling with a decline in print advertising and any combination could herald cost savings and a shared cut of a larger advertising pool.