Media The Daily Express Trinity Mirror

Profits fall at Express Newspapers as Trinity Mirror deal looms


By Cameron Clarke | Editor

October 1, 2017 | 2 min read

Profits have dropped at Richard Desmond’s Express and Daily Star newspapers ahead of their potential sale to Trinity Mirror.


Profits fall at Express Newspapers

Express Newspapers’ accounts show a pre-tax profit of £13m, down by more than half on the prior year, according to the Telegraph.

Turnover was down by 10% to £157m after the two tabloids cut their cover price to put pressure on rivals, including the Trinity titles which may soon become stablemates.

A prospective deal between Desmond and the Daily Mirror publisher has been on the cards since 2015, but on-off talks failed to make sufficient progress.

That was until last month, when Trinity Mirror confirmed it had entered into negotiations to acquire all of Desmond’s Northern & Shell publishing assets, including the Daily and Sunday Express, the Daily and Sunday Star and celebrity magazines OK, New and Star for a fee set at around £135m.

As The Drum media columnist Paul Connew wrote at the time: “The stumbling blocks behind the several delays centre on Richard Desmond’s famed determination to drive a hard bargain. Trinity was originally trying to buy Desmond’s publishing assets for less than £100m. But the agreed price of £130m-£135m will leave the Express owner with a gigantic smile on his face.”

Confirmation of a deal, which hinges on shareholder approval and no intervention from the Competition and Markets Authority, is still pending.

Media The Daily Express Trinity Mirror

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