Trinity Mirror has played down speculation that a deal to acquire certain assets of Northern & Shell is imminent.
In a statement to the stock market, Trinity Mirror, which publishes the Daily Mirror, confirmed that discussions were ongoing, but that there could be “no certainty that a deal will be agreed.”
Last year, Trinity Mirror revealed that discussions were under way to buy 100% of Northern & Shell, which is run by Richard Desmond and which publishes the tabloids Daily Express and the Daily Star.
It is the second time in less than two years that Trinity has opened talks with Northern & Shell.
Desmond acquired the newspaper titles in 2000 for £125m, although it remains to be seen what any deal would be would be worth in today’s climate.
The print media industry is having to come to terms with a decline in print advertising so any M&A deal could mean cost savings and a shared cut of a larger advertising pool.
In 2015, Trinity took over newspaper group Local World in a £200m deal, which comprised Cambridge News, Nottingham Post, Hull Daily Mail and the Leicester Mercury.
Trinity Mirror shares fell slightly in early morning trading – down 1.96% at 67.16.