NUJ raise concerns over Trinity Mirror monopoly and job security following Local World takeover
The NUJ has voiced its concerns over Trinity Mirror’s £220m takeover of Local World which it says has created a monopoly in local news that will further harm media plurality and jeopardise job security.
Trinity Mirror’s deal to acquire Local World will double the number of regional newspapers in its operation to more than 160 titles, leaving it with 30 per cent of the weekly circulation of all local papers in the UK.
The Daily Mirror publisher paid £187.4m for the 80 per cent of Local World which it did not already own, making it three times the size of the next two largest regional press publishers, Newsquest and Johnston Press.
NUJ general secretary, Michelle Stanistreet, said the deal was “a further blow to media plurality” and put the industry in danger of “having identikit newspapers across the UK”.
Stanistreet pointed to the “never-ending consolidation of the local media market” as the consequence of “the difficulties in increasing advertising revenue on digital products”.
She added that the “promise of further cuts to editorial is also depressing, not just to the readers who will notice a drop in quality, but to all our members who care passionately about their work and getting out the best- possible newspaper.”
Laura Davison, NUJ national organiser, said staff would be looking for “immediate reassurances about jobs and terms on the back of this announcement” and called for pensions, which were downgraded when Local World was created, to be upgraded.
Trinity Mirror’s chief executive, Simon Fox, summed up the takeover as a "good day for local media" and said it would help leverage its digital investments and compete more effectively in this space.
The deal is expected to be completed on Friday 13 November, but may yet require clearance from the Competition and Markets Authority