Trinity Mirror homes in on £200m Local World buy out
Publishing giant Trinity Mirror is on the cusp of snapping up regional newspaper group Local World in a £200m deal, despite opposition from the Liffe family which owns a fifth of the business.
Negotiations have been ongoing since the Spring and are expected to conclude within a matter of weeks according to reports in the Sunday Times. Should it proceed the takeover would add over 100 titles to the Trinity Mirror stable including the likes of the East Riding Mail, Leicester Mercury and The Cornishman.
Local World is headed up by former Trinity Mirror head David Montgomery who oversaw the creation of the group in 2012 following a merger of Daily Mail & General Trust’s (DMGT) Northcliffe Media and Iliffe News & Media.
Trinity Mirror currently owns a 20 per cent stake in Local World having paid £14m at the time of the merger although DMGT remains the single largest shareholder with a 39 per cent stake.