Talks over sale of minority stake in Express owners
THE PUBLISHER of the Daily Mirror newspaper has confirmed talks are under way to acquire a minority stake in Daily Express publisher Northern & Shell.
Trinity Mirror said on Tuesday discussions are at an “early stage” with the group, which is owned by Richard Desmond.
“The board of Trinity Mirror plc notes the recent media speculation and confirms that it is at an early stage of discussions towards taking a minority interest in a new company comprising certain of Northern & Shell’s assets.
“No offer has been made and there is no certainty that any agreement will be reached,” Trinity said in a statement.
It is the second time in under a year that Trinity has opened talks with Northern & Shell, which owns the Daily Express and Daily Star titles.
The last set of talks broke down following disagreements over pricing within the business.
Mr Desmond acquired the titles in 2000 for £125m.
A tie-up between the left-leaning Mirror and the Brexit-backing Express would raise eyebrows but could make commercial sense.
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.
As well as owning the Daily Mirror, Trinity also operates the Manchester Evening News and the Liverpool Echo.
Trinity attempted to buy the i newspaper last year but was outbid by Johnston Press, owners of The Yorkshire Post.