LONDON Oct 28 The owner of Britain's Daily Mail
newspaper is in talks over the future of its Northcliffe Media
regional newspaper division, the group said on Sunday, following
reports of a planned sale.
The Sunday Times said earlier that the Daily Mail and
General Trust (DMGT) was in negotiations to sell the
local newspaper division to David Montgomery - a former chief
executive of the Mirror Group of newspapers, now Trinity Mirror
- in a deal that would value the titles at around 110
million pounds ($180 million).
The paper said DMGT would retain a stake in the venture, if
the deal - which it said would be Montgomery's first since
stepping down from European newspaper publisher Mecom
last year - goes through.
"DMGT confirms that it is currently in talks regarding the
future of Northcliffe Media," it said in a statement.
"No deal or transaction has been agreed, but if these talks
move to the point where agreement is reached, an announcement
will be made to the market."
The Financial Times said in a separate report on Sunday that
Montgomery would be supported by Yattendon, the privately held
media and property group which owns Iliffe News & Media,
publisher of some 30 print titles.
Northcliffe Media publishes 84 newspapers across Britain,
reaching 5.8 million readers. Like its rivals, it has struggled
with faltering advertising spend, long-term circulation decline
and online competition.