Reading newspaper changes hands

Published 9 Feb 2010 11:14 2 Comments

THE Reading Post newspaper was sold today to the Trinity Mirror group.

The Tessa Road paper is part of GMG Regional Media, which has been sold off by the Guardian Media Group in a deal worth £44.8m.

GMG Regional Media, which publishes 32 newspapers and associated websites, comprises MEN Media, which prints 22 titles in the north west England, including the Manchester Evening News and Metro, and S&B Media, publisher of 10 titles in southern England, including the Reading Post and Surrey Advertiser.

The businesses made a zero operating profit in the 12 months to December and have gross assets of £8.7 million.

The transaction is due to complete on March 28 when Trinity Mirror will hand over £7.4m cash. The remaining £37.4m involves the release of a long term printing contract.

Trinity Mirror owned the Reading Chronicle and its sister papers in Berkshire until 2007 when they were bought by their current owners Clyde & Forth Press Ltd.

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• 

  Terry Nutkins
  Unregistered User
  Feb 9, 14:31
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  I'm afraid I don't see how this is news. What it looks like to me is you taking a cheap swipe at your rivals across town - if that's the case it's pretty sad.
  
  As it goes your article begs just one question - if the Mirror sold the Chronicle then why would it want to go and buy the Post unless its a better business?
  
  Recommend?   Yes 0     No 0

• 

  Ed
  Unregistered User
  Feb 11, 14:34
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  Not sure where the swipe is Terry - the article states fact; nothing else.
  
  As to why it has bought the business - it probably has more to do with the Manchester Evening News.
  
  Recommend?   Yes 0     No 0

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