The company which publishes the Manchester Evening News has been sold by the Guardian Media Group.
MEN Media publishes 22 titles in the North West of England, including the Manchester Evening News, and all have been sold to Trinity Mirror in a deal worth £44.8 million.
Channel M, the TV station for Greater Manchester, is not included in the sale.
The deal also includes S&B Media, which publishes regional newspapers in Surrey and Berkshire. These newspapers will be managed as part of Trinity Mirror’s existing publishing business in the South of England.
The Guardian cuts 142-year link with the Manchester Evening News
Trinity Mirror said the acquired titles complemented its existing portfolio and reinforced its commitment to regional media. The deal is due to complete on March 28.
As part of the deal, staff on the MEN Media titles will move from their current offices at Scott Place in Spinningfields to premises operated by Trinity Mirror in Chadderton, near Oldham, where the papers are printed.
Trinity Mirror chief executive Sly Bailey said the deal was “a perfect strategic fit” for the group.
“This acquisition, which includes the Manchester Evening News with its proud and rich journalistic heritage, together with the weekly titles and associated websites extends our reach across print and online and is a further step towards our strategic goal of creating a multi-media business of real scale,” she said.
Mark Dodson, chief executive of GMG Regional Media, has decided to leave the business, it was announced today. Ruth Spratt, managing director of MEN Media, has also decided to leave the company.
David Sharrock, currently chief operating officer of GMG Regional Media, has been appointed as managing director of MEN Media.
Carolyn McCall, chief executive of Guardian Media Group, said: “The Manchester Evening News and its sister titles have made a huge contribution to the fortunes of the Group for the best part of a century.
"GMG would like to pay tribute to all the staff for their hard work and achievement in a sector dealing with structural change as well as economic downturn.
“GMG is mandated to secure the future of the Guardian in perpetuity, and we have a strong portfolio which has to be in the right shape to achieve that goal. The Group board and the Scott Trust have made the decision to sell in light of these strategic objectives.
“GMG Regional Media is a good business and a publisher of important newspapers. However, we believe Trinity Mirror, as one of the UK’s biggest regional publishers, is best placed to develop this business in a market that is likely to consolidate further. We are therefore confident that this decision is in the best long-term interests of the regional business and its staff, as well as delivering real value for the Group.
“Mark Dodson has been a major part of GMG Regional Media’s success over many years. He and his leadership team have shown creativity, courage and determination in a very tough media market. We thank them for that.”
The Guardian cuts 142-year link with the Manchester Evening News
You need Flash player 8+ and JavaScript enabled to view this video.
Tweet
Showing comments 1 to 25 and replies | View All
tiggerluc, somewhere in shaw (09/02/2010 at 15:06)
Wonder why M is not included.....
....also only a year since it closed all the regional offices. And now moving to Oldham.
jordy, Middleton (09/02/2010 at 15:16)
Chris R, Irlam (09/02/2010 at 15:20)
Jay B, oldham (09/02/2010 at 15:21)
Laura Norder, Didsbury (09/02/2010 at 15:24)
Sly Bailey is the Chief Exec of Trinity Mirror.
What's confusing?
jordy, Middleton (09/02/2010 at 15:58)
mags1, Stockport (09/02/2010 at 16:01)
Laura Norder, Didsbury (09/02/2010 at 16:09)
What makes the people think that the new owners - clue is in the name Trinity MIRROR - will take a right-of-centre stance for the MEN... I would seriously doubt it.
What about the workers!!!
Trinity Mirror is certainly no friend of the staff who make their £millions for them, so I predict there may be trouble ahead.
Laura Norder, Didsbury (09/02/2010 at 16:11)
Merely capping up 'SLY', is hardly irony - not in the real world, anyway.
Mark, South Manchester (09/02/2010 at 16:12)
schgittor (09/02/2010 at 16:26)
Tatty, Astley (09/02/2010 at 16:54)
petan, openshaw (09/02/2010 at 17:08)
Brad, Macclesfield (09/02/2010 at 17:39)
canonball, inside the helmet (09/02/2010 at 17:41)
Ace may your Birch always be well oiled.;-(
Brad, Macclesfield (09/02/2010 at 17:47)
voicing my opinion, manchester (09/02/2010 at 19:52)
thoughtful, East of Manchester (09/02/2010 at 19:53)
arachne, The Web (09/02/2010 at 20:50)
TonyWwW, Oldham (09/02/2010 at 21:23)
A very sad time for ALL Northerners, in my opinion
Ran Droid, Manchester (09/02/2010 at 23:08)
It's very short-termist of the GMG, after all they keep making losses anyway - I wonder if this was the price for the survival of the Observer?
I have sometimes - not always! - despaired over the quality of some of the reporting, I cannot see this as a step towards greater quality...
Craig Hudson (10/02/2010 at 03:39)
Andy7, Burnage (10/02/2010 at 09:14)
Andy7, Burnage (10/02/2010 at 09:20)
Jay The Manc, That London place (10/02/2010 at 09:28)