Daily Mail and General Trust (DMGT) is in talks to sell the Scottish arm of its local newspapers division, despite its recent decision not to auction Northcliffe Newspapers.
According to a report in the
Financial Times, DMGT is rumoured to be considering a sale for up to £120 million.
DMGT announced last month that, after completing a strategic review, it would not be selling Northcliffe Newspapers believing it offered valuable long-term franchises (see DMGT Holds Onto Northcliffe).
The newspaper publisher announced plans to sell Northcliffe last November, with the decision to go ahead made following a strategic review of the business revealed the need for restructuring in order to compete with competitors such as Trinity Mirror and Johnston Press (see Northcliffe Sale Marks ‘Turning Point’ For DMGT).
Northcliffe, who currently owns over 100 regional titles, could be worth around £1.6 billion to a competitor or private equity firm, according to analysts.
DMGT previously claimed that Northcliffe’s performance had been impeded by industry consolidation, forcing prices to rise for the remaining independent titles.
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