Trinity Mirror in talks to buy Express and Star newspapers
Reach
69.20p
17:00 25/04/24
Trinity Mirror, the owner of the Daily Mirror newspaper, is in talks to buy the entire publishing assets of Richard Desmond's Northern & Shell business, which controls the Daily Express, Daily Star and OK! Magazine.
FTSE All-Share
4,387.94
16:49 25/04/24
FTSE Small Cap
6,412.53
17:14 25/04/24
Media
11,717.59
17:09 25/04/24
Trinity said it was "in discussions to acquire 100% of the publishing assets of Northern & Shell", having in January admitted in was in the "early stage of discussions" with Desmond over a potential investment in some assets.
On Friday, the publisher said it was no longer negotiating over acquiring a minority stake.
Any acquisition would require the approval of Trinity Mirror shareholders, the company added.
Newspaper reports earlier in the year had suggested Trinity might buy OK! Magazine and take a minority stake in Northern & Shell that could lead to a larger deal such as a combination of the Express and Star newspapers.
But these talks were put on hold by a rival bid from ex-Trinity Mirror, Local World and Mecom newspaper magnate David Montgomery to buy Northern & Shell's entire publishing arm, with Trinity having been said to be one of the possible backers.
These talks have since fallen through, the Guardian reported.