News & Opinion

Trinity Mirror acquires Northern & Shell’s publishing assets

Trinity Mirror announces the proposed acquisition of Northern & Shell’s publishing assets for a total purchase price of £126.7 million.

The publisher said the deal will enable it to improve its print and digital editorial propositions by reducing duplication, sharing content and widening the breadth of editorial coverage with larger combined teams.

Northern & Shell’s publishing assets include the Daily Express, Sunday Express, Daily Star and Daily Star Sunday, as well as celebrity magazines OK!, New! and Star.

The deal gives Trinity Mirror a combined digital audience of 234 million monthly unique browsers (excluding apps). In a statement this morning, the publisher said the acquisition will provide advertisers and agencies with a larger, high quality audience and allow it to improve digital products through shared investment and best practice.

From a financial point of view, the board believes the acquisition will deliver attractive returns to shareholders as the group will have a more robust revenue mix with circulation revenue representing nearly half of its total revenue.

Simon Fox, chief executive of Trinity Mirror, 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. Northern and Shell’s titles have a large and loyal readership, a growing digital presence and a stable revenue mix and offer an excellent fit with Trinity Mirror.”

Richard Desmond, chairman of Northern & Shell, added: “The Express Newspapers and our celebrity magazine titles have been a key part of the Northern & Shell portfolio for many years, and I am immensely proud of building them into one of the largest newspaper and magazine groups in the UK. Today’s transformational transaction is a logical and natural next step in the evolution and consolidation of the media sector and will create a larger and stronger platform serving all stakeholders. In Trinity Mirror we have a great partner, who will be an excellent steward of the business going forward and I am delighted to be able to retain an ongoing interest in the combined group.”

 

by Liz Jaques 09/02/18

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