Trinity Mirror, the owner of the popular tabloid, Mirror, has acquired the publisher of Daily Express in a £127 million deal.
As a part of the acquisition, Trinity Mirror will have control of four national newspaper titles including Sunday Express, Daily Star, Daily Star Sunday and celebrity magazines OK!, New! and Star.
Sky News says that Trinity Mirror will pay an initial £47.7 million in cash to Richard Desmond’s Northern & Shell group, £59 million in 2020 and 2023, plus shares worth £20 million. It will also put a one-off payment of £41.2 million into the publisher’s pension scheme.
Trinity Mirror chief executive Simon Fox said, “This deal is a really exciting moment in Trinity Mirror’s history, combining some of the most iconic titles in the UK media industry.
“It is good for our readers, good for our customers and good for our shareholders. Northern and Shell’s titles have a large and loyal readership, a growing digital presence and a stable revenue mix and offer an excellent fit with Trinity Mirror.”
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