UK: Trinity Mirror sold Racing Post
Posted by Jean Yves Chainon on October 3, 2007 at 10:36 AM
Trinity Mirror sold its Racing Post newspaper to FL Partners to £170 million. It holds on to its Midlands and South East titles, due to lack of an adequate offer.
Trinity Mirror initially expected to sell its South East and Midlands titles, along with its sports division, for a combined £400 million.
Says Sly Bailey, Trinity Mirror’s chief executive: "Throughout this process we made it clear that we were not prepared to sell our high quality media assets at any price. It is clear to us that offers for the businesses we are retaining in the Midlands and the South East did not reflect their true value.”
Source: Brand Republic
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