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Trinity Mirror shares bounce as it confirms interest in Northcliffe
TRINITY Mirror yesterday confirmed reports over the weekend that it is in discussions over taking a minority interest in a new group formed by combining the assets of Iliffe News & Media with Northcliffe, sending its shares higher.
Shares in Trinity Mirror rose more than six per cent to 54.5p in early trading as it confirmed its interest in the plans for a new regional newspaper group, run by its ex-CEO David Yattendon.
DMGT, which owns Northcliffe and its 84 regional newspapers, said on Sunday that talks had begun on the deal, which is being supported by prominent asset manager Crispin Odey and looks set to be worth around £100m.
“No offer has been made and there is nothing further to report at this stage,” said Trinity Mirror.