View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. News
March 10, 2008

Piers Morgan: Fleet Street mates ‘knifed us’ on Press Gazette deal

By Martin Stabe wirepost

Former Mirror editor Piers Morgan has described his 2005 decision to invest in Press Gazette together with PR man Matthew Freud as one of the worst investments of his life — along with his purchase of £67,000 worth of Viglen shares before the Mirror’s City Slickers column tipped the stock.

Morgan told the Sunday Times: “We revitalised the magazine and transformed the British Press Awards into a great event again. The only problem was that many of my old Fleet Street mates decided to knife us squarely in the back, for which I will be eternally ungrateful”

Morgan lost about £250,000 on the Press Gazette venture, he told the Sunday Times.

Morgan and Freud bought Press Gazette from Quantum Business Media in early 2005. Press Gazette Ltd, the company Morgan and Freud owned, went into administration in late 2006. Press Gazette magazine closed for one week before it was reopened by new owners Wilmington Media, now Wilmington Business Information.

Content from our partners
How PA Media is helping newspapers make the digital transition
Publishing on the open web is broken, how generative AI could help fix it
Impress: Regulation, arbitration and complaints resolution

Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network