Trinity brushes aside Government concerns over its deal to buy the Express

TRINITY MIRROR is confident that its £126.7m deal to buy the

and the does not present competition or media plurality issues, despite Government intervention in the tie-up.

On Tuesday, Culture Secretary Matt Hancock barged into the deal, saying he has referred it to media watchdog Ofcom on the grounds of public interest.

He expressed concerns over editorial decision-making and independence, as well as the reduction in the number of views in newspapers.

The Competition and Markets Authority (CMA) must also report back on jurisdiction and competition issues.

But the publisher said in response: “The board remains confident that the acquisition does not present any competition or media plurality issues.”

The two watchdogs have until May 31 to outline their findings, after which Mr Hancock will decide whether to refer the takeover for an in-depth investigation or accept moves to address concerns.

Under its planned takeover, Trinity will stump up an initial £47.7m to Northern & Shell, followed by £59m between 2020 and 2023 and a further £20m in shares to the Richard Desmondowned firm.

It comes at a difficult time for the newspaper industry, which is grappling with sliding advertising revenues, laid bare by a trading update issued by Trinity.

The group said that, excluding the Express titles, like-for-like revenue at the group fell 9 per cent in the four months to April 29.

While advertising picked up in March and April, the extreme weather dented newspaper sales. Print advertising revenue fell by 17 per cent and circulation revenue fell by 7 per cent. Revenue for the and

is estimated to have fallen by 5 per cent on a like-for-like basis, with print falling by 8 per cent and digital growing by 40 per cent.