Eight titles, described as “peripheral to the core business” were sold yesterday for £16.1 million by Trinity Mirror to regional rival Johnston Press.
Trinity, Britain’s largest newspaper publisher, said the money would go towards reducing its massive £768m debt – largely incurred by its acquisition in 1998 of national titles the Daily and Sunday Mirror and The People.
Among the eight newspapers bought by Johnston are the Northampton Herald & Post and the Derby Trader. The deal is subject to competition approval by secretary of state for trade and industry, Patricia Hewitt.
News source: CampaignLive (UK)