Trinity Mirror to buy the Express in a £127m deal

THE PUBLISHER of the Daily Mirror newspaper has struck a £127m deal to buy a string of titles from Northern & Shell, including the Daily Express, the Daily Star and OK! magazine.

The move marks a major shakeup of Britain’s media landscape, bringing together the politically left-leaning Sunday Mirror, with more right-wing publications such as the Sunday Express.

Publisher Trinity Mirror said the takeover will have no impact on the political bias of the newspapers and editors will retain independent control of their titles. Trinity Mirror will stump up an initial payment of £47.7m, followed by £59m between 2020 and 2023 and a further £20m by issuing 25.8 million shares to Northern & Shell priced at 10p each.

The deal will also see Trinity Mirror seize control of Daily Star Sunday, magazines New! and Star, and 50 per cent of the Irish Daily Star. Northern & Shell is owned by Richard Desmond, who acquired the Express titles in 2000 for £125m.

Trinity Mirror’s chief executive Simon Fox said: “This deal is a really exciting moment in Trinity Mirror’s history, combining some of the most iconic titles in the UK media industry. It is good for our readers, good for our customers and good for our shareholders.”

The print media industry is grappling with a decline in advertising and any combination could herald cost savings.