Trinity Mirror confirms Express talks, Desmond may exit newspapers

10th Jan 2017 07:28

(ShareCast News) - Trinity Mirror confirmed it is in the "early stage of discussions" with Richard Desmond over a potential investment in some assets of his Northern & Shell business, which controls the Daily Express, Daily Star and OK! Magazine.The Daily Mirror owner said no offer has yet been made and there was no certainty that any agreement will be reached.Newspaper reports had suggested possible options could include Trinity buying assets such as OK! Magazine and that any minority stake in Northern & Shell could lead to a larger deal such as a combination of the Express and Star newspapers.Reports later on Tuesday suggested a company set up by ex-Trinity Mirror, Local World and Mecom newspaper magnate David Montgomery was hoping to buy Northern & Shell's entire publishing arm, potentially backed by Trinity among other investors. Sky News reported that Montgomery, who sold regional newspaper group Local World to Trinity in November 2015, was in prime position to acquire the Express, Star and OK assets.