September 8, 2017 Last Updated 8:22 am

Trinity Mirror say talks to acquire Northern & Shell are now about gaining 100% ownership

The publisher of the British tabloid Daily Mirror, confirmed that talks continue with Northern & Shell, publisher of Daily Express.

Trinity Mirror had said back in January that it was in discussions regarding its UK tab competitor, but at that time it said it may be looking at acquiring a minority stake in Northern & Shell — now it is interested in acquiring 100 percent.

British media observers believe the newspaper market is ripe for consolidation, due mostly to the growth of digital media.

The UK and US newspaper markets are very different thanks to geography and temperament. The US has fewer national newspaper due to its size and the distribution of its population (with major media markets on opposite coasts). In the UK, the tabloids are the largest circulation newspapers, while in the US, broadsheets such as The New York Times, USA Today and The Wall Street Journal dwarf the NYC tabs, which have been losing circulation steadily in the last decade.

Here is the latest announcement from Trinity Mirror on its talks with Northern & Shell:

LONDON, UK — September 08, 2017 — Further to the announcement made on 10 January 2017 the Board of Trinity Mirror plc notes that it is now in discussions to acquire 100% of the publishing assets of Northern & Shell and that it has ceased discussions to acquire a minority stake in a new company comprising the publishing assets of Northern & Shell.

There is no certainty that any transaction will be agreed or completed. Any acquisition would require the approval of Trinity Mirror shareholders.

A further announcement will be made when appropriate.

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