Trinity Mirror has confirmed it is in talks about a takeover of regional newspaper group Local World.
Trinity is reportedly considering a deal worth £200m to acquire the remaining 80% of the group it does not own from investors including Daily Mail owner DMGT – which owns a 39% stake in the company – and Yattendon Group.
A statement from Trinity said: “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. There is no certainty that any agreement will be reached.”
Local World was formed in 2012 through a merger of DGMT’s regional division Northcliffe Media and Illfe News & Media. It runs over 100 titles mostly based in the Midlands and south of England.
Trinity currently runs more than local 250 titles, as well as nationals the Daily Mirror, Sunday Mirror and Sunday People.
Attempts by Trinity to engineer a takeover were blocked in July by Lord Illfe, the chairman of Yattendon Group which oversaw the merger with DMGT’s titles and owns just over 20% of the company.
DMGT and Trinity shared around £25m in dividends from Local World in the last financial year after the group’s profits rose 1 2% to £43.6m.
