LONDON: Amid falling advertising and circulation revenues, Britain's largest newspaper publisher, Trinity Mirror Group, on Thursday announced a relatively modest programme of disposals.
It will likely disappoint the hounds of Wall Street and London EC2, currently baying for a complete breakup.
The prime targets for disposal are regional titles in the Midlands, London and south-eastern England, along with daily specialist newspaper Racing Post and the rest of TMG's sports division - the latter ironically reporting ad revenues increased by 3.1% year-on-year.
The slimmed group will focus resources on its UK digital assets, along with national and regional newspapers in Scotland, Wales and the North of England.
Group ceo Sylvia (Sly) Bailey claims that that the disposals and refocussing on new technology will make TMG one "of the most efficient and modern media groups in Europe". It will also slash £20 million ($39.33m; €29.76m) from costs by 2008.
Still in über-hype mode, Bailey added: "The new integrated model will allow Trinity Mirror to develop as a multi-platform media business and capitalise on the enormous strengths we have in our core markets."
Data sourced from BBC Online; additional content by WARC staff