The company issued a statement indicating that it had broken off discussions around a joint venture to share sales and back office operations at the two companies.
Instead the publisher of the Daily Mirror newspaper has confirmed talks are under way to acquire 100 per cent of Northern and Shell.
Trinity Mirror previously held discussions about acquiring some of Richard Desmond’s titles in early 2015.But the talks came to nothing and were ended in typically forthright style by Desmond in December of that year that he said he was irritated by what he saw as the “Mirror Group’s using his name and prolonging the idea of a deal perhaps as a cheap means of shoring up their share price”.
It said he that he had his “own plans for the future of Northern and Shell” and added: “I would prefer it if the Mirror boss Fox off.” Trinity Mirror’s chief executive is Simon Fox.
Trinity Mirror instead bought regional press group Local World in a £220m deal, since then making drastic editorial cutbacks across the board at its titles.
Trinity Mirror said today: “Further to the announcement made on 10 January 2017 the Board of Trinity Mirror plc notes that it is now in discussions to acquire 100 per cent 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.
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