Trinity Mirror denies “auction” as £600m offer for Mirror titles reported

Trinity Mirror has emphasised that it is not holding an auction of its assets, following a report in The Times today that conference organiser Marcus Evans has “registered an interest” to buy the Mirror and Sunday Mirror.

According to The Times, Evans is willing to offer up to £600 million for the titles – £200 million less than he was reportedly willing to pay in 2004.

But Trinity Mirror has emphasised to Press Gazette that it has had a number of expressions of interest, since a wholesale review of the company was announced in August, but that this was to be expected.

A spokesman said: “We are still continuing our review and we have not yet reached our conclusions from that review. We are going public to the market before the end of the year, we are not conducting an auction of our assets.”

The strategic review was announced following a year-on-year dip in operating profits for the six months to July, down 14.3 per cent to £110 million on turnover down 2.2 per cent to £566.6 million.

Trinity Mirror chief executive Sly Bailey said in August: “This is a full review, as we have said, of our businesses, our operating models and our structure. We are going to be looking at what we do, we are going to be looking at how we do it, we are going to be looking at how well we do it and we are going to be looking at why we do it and the cost of doing it, in order to understand the projections and value of those businesses over time.”

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