Trinity Mirror prepares for phone-hacking fall-out with £4m cash reserve
Trinity Mirror set aside a cash pot of £4m in the first half of this year to deal with claims related to phone-hacking following revelations about the scandal in the British press.
Preparing: Trinity Mirror is dealing with phone-hacking claims
The publisher revealed the move in its financial report covering the first half of this year. The news follows a statement released in May in which the firm insisted it would “not accept wrongdoing”.
In its latest report, Trinity Mirror said it was facing 17 civil claims related to phone-hacking and said it was co-operating with police inquiries connected to Operations Elveden, which relates to payments made to public officials, and Operation Golding, which concerns phone-hacking.
“The group is aware of a number of civil claims from individuals in relation to phone-hacking,” a statement said. “In the first half we have provided £4m to cover the cost of dealing with and resolving claims.
“It remains uncertain as to how these matters will progress, whether further allegations or claims will be made, and their financial impact.”
Former tabloid journalist Dan Evans was given a suspended sentence last week after admitting phone-hacking during his time both both at the News of the World and the Sunday Mirror.
In May, Trinity Mirror chairman David Grigson said the company had undertaken “extensive investigations short of ripping up the floorboards” in an internal inquiry into phone-hacking at Trinity Mirror titles.
Following the conviction last month of former News of the World editor Andy Coulson of conspiracy to phone-hack, Rupert Murdoch’s News UK could still face further trouble in the form of corporate charges, according to reports in the Idependent.
Between compensation and legal costs, Rupert Murdoch’s bill has already reached the hundreds of millions.