Trinity Mirror Agrees to Buy U.K. Tabloid Rival

0
371
Trinity Mirror Agrees to Buy U.K. Tabloid Rival


[ccpw id=”6606″]

Photo



The offices of Northern & Shell, the publisher of The Daily Express, in London.

Credit
Simon Dawson/Reuters

LONDON — As the tabloids might say: Trinity Mirror in Daily Express Shock!

Trinity Mirror, which publishes The Daily Mirror, said on Friday that it had agreed to acquire the print assets of the Northern & Shell Media Group, which publishes The Daily Express, in a deal that would bring together news outlets on opposite ends of the political spectrum and shake up Britain’s fiercely competitive newspaper market.

The deal is valued at 126.7 million pounds, or about $176 million. Assuming it goes through, Trinity Mirror’s holdings will run the political gamut, from The Daily Mirror, the best-selling newspaper in Britain on the left, to The Daily Express on the right.

Trinity Mirror publishes more than 150 newspapers in Britain and Ireland, including the Manchester Evening News, and the purchase would add a diverse group of other publications to that roster, including the celebrity magazines OK!, New! and Star and the newspapers The Sunday Express, The Daily Star and The Daily Star Sunday.

The deal also clears the way for the exit from the news media industry of Richard Desmond, Northern & Shell’s colorful chairman and founder, a billionaire who made his money in adult and celebrity magazines.

Simon Fox, the Trinity Mirror chief executive, said in a statement that the deal would benefit readers and shareholders, adding that Northern & Shell’s titles would bring his company “a large and loyal readership, a growing digital presence and a stable revenue mix.”

Continue reading the main story



Original Source