UK: sale of regional newspaper group deserted
Posted by John Burke on February 20, 2006 at 1:13 PM
The Daily Mail and General Trust announced last week that it is taking its regional newspaper group, Northcliffe Newspapers, off the block. DMGT received three offers for the umbrella company of 100 newspapers, but none "fully reflect(ed) the long-term value of the business.
Northcliffe will remain under the control of DMGT which "firmly believes that Northcliffe has valuable long-term franchises which will continue to play a vital role in their local communities." However, costs will be cut from the company who netted 101.6 pound sterling in profit last year.
An article in the Guardian also mentions that Northcliffe is considering buying rival titles because the regional newspaper market has lost value because of a weak advertising market.
Source: Guardian (sale deserted and rival titles)
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