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Richard Desmond to sell off magazines

It has been revealed that Richard Desmond’s publishing company, Northern & Shell, has put its magazine titles up for sale.

Northern & Shell, owner of magazine titles including OK!, New! And Star and newspapers Daily Express, Sunday Express, Daily Star and Daily Star Sunday, has put its magazine portfolio up for sale.

It has been reported by Media Week that the proposed sale of the UK and all international editions of OK!, as well as UK publications Star and New! Magazine, has been detailed in a confidential Barclays Capital presentation, the investment bank having been employed to oversee the transaction.

The presentation reveals that OK! Magazine in the UK made a profit of around £20m last year.

The US edition of OK! is thought to be heavily loss-making however, and it is understood that Northern & Shell is trying to sell it separately from the other editions.

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