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Local World chief executive Steve Auckland eyeing further acquisitions

 

Local World chief executive has confirmed that the next phase of its strategy will see more acquisitions made by the regional publishing joint venture.

The company was formed earlier this year when Illffe News & Media and Northcliffe were sold to the David Montgomery-led vehicle, in which Trinity Mirror also has a 20 per cent stake.

It runs 16 daily titles, 36 paid-for  weeklies, 40 free weeklies, two Metro franchises and a number of niche products including magazines.

Auckland told City AM: “The [local newspaper] sector needs consolidation, it’s too fragmented and I think there’ll be other acquisitions in time.

“We’ve got to get the operations working and the next part will be acquisitions.

He told the paper that deals could be in cash or equity but added that Local World is not in talks with any potential targets.

 

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