Northern & Shell to sell newspapers to David Montgomery, report says

10th Jan 2017 12:26

(ShareCast News) - Richard Desmond may sell his Express and Star newspapers to a company set up by ex-Trinity Mirror, Local World and Mecom newspaper magnate David Montgomery, according to reports on Tuesday. Sky News reported that Montgomery, who sold regional newspaper group Local World to Trinity in November 2015, was in prime position to acquire the publishing arm of Northern & Shell, which also published OK! Magazine.Trinity confirmed earlier on Tuesday that it was "at an early stage of discussions towards taking a minority interest in a new company comprising certain of Northern & Shell's assets".This followed reports on Monday that suggested possible options could include Trinity buying certain publishing assets outright.According to Sky's sources, Montgomery was in talks with potential backers but also planned to inject a sizeable stake of his own in the proposed new business.