Trinity set to expand media empire

TRINITY Mirror, the publisher of The Manchester Evening News and the Liverpool Echo, has confirmed it is talks to buy rival Local World.

If its move is successful, it would add the likes of the Nottingham Post and Leicester Mercury to its portfolio of titles giving it a firmer grip on the Midlands local newspaper market.

Speculation in national newspapers at the weekend suggests the deal is worth £200m.

Trinity Mirror is already one of the main shareholders of Local World, which is run by former Mirror Group chief executive David Montgomery. It is based in London and Leicester and operates more than 100 newspapers.

On a statement to the London Stock Exchange this morning, Trinity Mirror said it was in talks to buy out the shares it does not already own in rival Local World Holdings.

“The board of Trinity Mirror plc notes the recent media speculation and confirms that it is in discussions with Local World Holdings Limited for the potential acquisition of the shares not already owned by Trinity Mirror plc,” it said.

“There is no certainty that any agreement will be reached.”