Trinity Mirror considered selling a number of its shares to Daily Mail & General Trust earlier this year in return for taking control of DMGT’s regional newspapers, according to a report this morning.
The Guardian reported that talks were halted after negotiations had taken place over the summer but that the door remained open for further talks.
The talks came after culture secretary Jeremy Hunt vowed to do away with cross-media ownership rules that prevent greater consolidation in the regional media industry.
Trinity Mirror chief executive Sly Bailey Bailey – along with the heads of several other newspaper groups – has been a consistent advocate for reform of laws preventing significant consolidation of local media business.
In February this year Trinity Mirror – which is the biggest regional publishing group – increased its hold on the regional newspaper sector by taking ownership of the Manchester Evening News and its associated weekly titles by buying GMG Regional from the Guardian Media Group. That move effectively took GMG out of the regional newspaper business.
Trinity Mirror said it didn’t comment on market speculation.