The publisher of the Daily Mirror is in exclusive talks with Richard Desmond to buy the Daily Express, Sunday Express and Daily Star, in a deal thought to be worth about £130m.
Trinity Mirror has made the move after a wider deal – led by former Mirror executive David Montgomery – to combine the back office and sales businesses of the two publishers failed after months of negotiations.
“Trinity Mirror notes that it is now in discussions to acquire 100% of the publishing assets of Northern & Shell and that it has ceased discussions to acquire a minority stake in a new company comprising the publishing assets of Northern & Shell,” the company said.
A merger of Media groups could continue the narrowing of diverse reporting in the UK. The proposed merger is likely to be called in by the competition commission. The impact for jobs and journalism could be severe in a shrinking marketplace. Trinity Mirror emphasise that there may be no guarantee of a deal, although this time round it looks more likely as Desmond seeks to exit the media market and concentrate on the property market. The two companies have been in talks on and off for some time, for Express Newspapers staff a merger may actually be more positive than being controlled by Desmond as reported in 2015 in this article: https://lunanhead.wordpress.com/2015/09/23/desmond-does-a-dirty-on-his-staff-medianews-expressnewspapers-fatcats/