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Saturday 18 August 2018

Trinity talks to buy Daily Express still ongoing

Trinity Mirror responded to media reports suggesting a deal with parent firm Northern & Shell could be sewn up this week.

What the papers say - February 5
What the papers say - February 5

By Ravender Sembhy, Press Association City Editor

The publisher of the Daily Mirror newspaper has said it remains locked in discussions over a deal to buy the Daily Express and Daily Star.

In a stock market announcement, Trinity Mirror responded to media reports suggesting a deal with parent firm Northern & Shell could be sewn up this week.

“Trinity Mirror notes the media speculation over the weekend about it acquiring certain assets of Northern & Shell.

“As previously announced, discussions are ongoing, but there can be no certainty that a deal will be agreed,” the company said.

Last year the firm confirmed discussions were under way to buy 100% of Northern & Shell, which is run by Richard Desmond.

It is the second time in less than two years that Trinity has opened talks with Northern & Shell.

Mr Desmond acquired the newspaper titles in 2000 for £125 million, 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.

In 2015 Trinity took over local newspaper group Local World in a near £200 million deal, giving it control of the Cambridge News, Nottingham Post, Hull Daily Mail and Leicester Mercury.

Press Association

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