The salivating pack sniffing around the porn stable of Richard Desmond, Express Newspapers’ new proprietor, is said to number six would-be buyers, among them David Sullivan and Soho club-owner Paul Raymond - respective publishers of the testosterone-tweaking Daily Sport and Sunday Sport newspapers; and Mayfair and Club magazines.
Up for grabs are Desmond’s thirty top-shelf titles including such fodder as Asian Babes, Nude Readers' Wives and Big Ones. The retention of these, say Desmond’s financial advisors, would not enthral institutional investors when the planned IPO of his holding company, Northern & Shell, takes place.
Since acquiring Express Newspapers in November [WAMN: 23-Nov-00], Desmond has pursued a relentless cost-cutting strategy with the loss of over 200 jobs across the group, including those of Daily Express editor Rosie Boycott and her deputy Chris Blackhurst, both of whom opposed the decimation [WAMN: 26-Jan-01] .
News Source: CampaignLive (UK)