The decision by the Telegraph Media Group (TMG) to publish its titles on News International presses is significant. Behind today's bland statement announcing the move is a delightful story of media mogul mayhem.
In effect, the Barclay brothers, owners of TMG, are telling their printing partner, Richard Desmond, owner of the Express group, to get lost. The Barclays have been unable to convince Desmond to invest in the West Ferry print plant. Undoubtedly, that's what Chris Tryhorn means when referring to "obstacles" in achieving the Telegraph's desired print press upgrades. That certainly confirms what we all know: Desmond isn't interested in the future of his papers. He is making his money now and what happens to the titles down the line is of no real concern to him.
There is much more drama to come, of course, because of the two-year notice period that the Telegraph has to give before quitting the joint venture, which was agreed back in 1987. The owners then were different too: Conrad Black was proprietor of the Telegraphs and the Express titles were owned by United Newspapers.
Note the careful, legalistic wording: "The detailed timing for, and the extent of, the transition of printing to NPG [News International's print division] has still to be finalised." You bet it has. Desmond is going to be furious and will surely seek to extract the maximum compensation from the Barclays if they wish to pull out before the two years are up. On the other hand, he will also be aware that there is no pot of gold for him if the Barclays are willing to sit it out.
The most realistic outcome will be a compromise deal. But that is going to take a lot of argument. The Telegraph will benefit from more colour when they switch to News International presses. But Desmond's language is sure to be even more colourful. Oh to be a fly on the wall during those negotiations.
