GMG's Manchester Evening News to be sold off to rival?
Posted by Helena Humphrey on December 18, 2009 at 12:51 PM
A spokesperson for the Guardian Media Group has confirmed that the company is in talks with its regional press newspapers, stirring speculation that the group is to sell the Manchester Evening News to rival publishing group Trinity Mirror:
"Since the publication of the Digital Britain report we have been considering the potential for further consolidation within the regional press sector, and as part of this there have been some exploratory talks regarding our regional media business.
"Since the publication of the Digital Britain report we have been considering the potential for further consolidation within the regional press sector, and as part of this there have been some exploratory talks regarding our regional media business.
The spokesperson maintained that such talks are at a preliminary stage and no decision nor plan of action has been agreed upon.
Rumours currently circulating suggest that the sale would be a bid to save jobs in line with the Scott Trust's aim of protecting the interests of The Guardian. The financial crisis has wreaked havoc on both the GMG and Trinity, with both groups encountering significant revenue loss, forcing drastic measures including job cuts, office closures and changes to distribution patterns.
Although the GMG has declined to comment further regarding the matter, the sum of £40m has been floated for the sale.
Source: How Do
Rumours currently circulating suggest that the sale would be a bid to save jobs in line with the Scott Trust's aim of protecting the interests of The Guardian. The financial crisis has wreaked havoc on both the GMG and Trinity, with both groups encountering significant revenue loss, forcing drastic measures including job cuts, office closures and changes to distribution patterns.
Although the GMG has declined to comment further regarding the matter, the sum of £40m has been floated for the sale.
Source: How Do
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