Trinity Mirror may gain the advertising lost by News of the World
An analyst has suggested that Trinity Mirror Plc may gain from the advertising losses of News of the World, with Trinity Mirror shares jumping 8.9% yesterday.
The Daily Mirror may be the first port of call for advertisers who have pulled adverts from News Corp’s News of the World following hacking allegations.
Alex De Groote, an analyst at Panmure Gordon & Co, told Bloomberg that the Sunday Mirror could increase its ad revenue to 30 million pounds from a range of 15 million pounds to 20 million pounds currently, he said.
However, some advertisers may simply turn to other News Corp publications, such as the Sun and the Times.
This morning, News Corp shares fell 3.3%.