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Shake-up plan at Trinity Mirror Shake-up plan at Trinity Mirror
(about 2 hours later)
Newspaper publisher Trinity Mirror has said it is to sell its sports division, which includes the Racing Post, as well as a number of regional papers. Newspaper publisher Trinity Mirror is to sell off the Racing Post and the rest of its sports division, as well as a number of regional papers.
The group plans to offload its regional titles in the Midlands, London and the South East.The group plans to offload its regional titles in the Midlands, London and the South East.
Instead, Trinity Mirror will focus on national and regional newspaper titles in Scotland, the North of England and Wales, as well as UK digital assets.Instead, Trinity Mirror will focus on national and regional newspaper titles in Scotland, the North of England and Wales, as well as UK digital assets.
The move comes amid falling advertising and circulation revenues.The move comes amid falling advertising and circulation revenues.
Integrated modelIntegrated model
Trinity Mirror said that group circulation revenue fell by 0.5% during the five months to November 2006.Trinity Mirror said that group circulation revenue fell by 0.5% during the five months to November 2006.
The new integrated model will allow Trinity Mirror to develop as a multi-platform media business Sly Bailey, Trinity Mirror chief executive Trinity Mirror's share priceThe new integrated model will allow Trinity Mirror to develop as a multi-platform media business Sly Bailey, Trinity Mirror chief executive Trinity Mirror's share price
During the same period, total advertising revenues dropped 8.4% year-on-year.During the same period, total advertising revenues dropped 8.4% year-on-year.
For the regional division, advertising revenues dropped 8.6% year-on-year in the five-month period.For the regional division, advertising revenues dropped 8.6% year-on-year in the five-month period.
Bucking the trend was the sports division, which saw advertising revenues increase by 3.1% year-on-year.Bucking the trend was the sports division, which saw advertising revenues increase by 3.1% year-on-year.
As well as selling the regional and sporting titles, Trinity Mirror said it would look to boost its use of new technology.As well as selling the regional and sporting titles, Trinity Mirror said it would look to boost its use of new technology.
According to the company, the plans will save it £20m by 2008.According to the company, the plans will save it £20m by 2008.
The group's chief executive Sly Bailey said that the programme of disposals and concentration on new technology would make the firm the one "of the most efficient and modern media groups in Europe". Group chief executive Sly Bailey said that the programme of disposals and concentration on new technology would make the firm the one "of the most efficient and modern media groups in Europe".
"The new integrated model will allow Trinity Mirror to develop as a multi-platform media business and capitalise on the enormous strengths we have in our core markets," she added."The new integrated model will allow Trinity Mirror to develop as a multi-platform media business and capitalise on the enormous strengths we have in our core markets," she added.