Montgomery Promises Left Stance

Chief executive of Mirror Group Newspapers, David Montgomery, has given his word to the four banks backing the newspaper group that the Daily Mirror will keep its left stance and that he will no longer interfere in editorial matters which could shift the paper politically.

NatWest, the group’s largest shareholder, fears that a change in stance could have a drastic effect on the company as a whole, a fear which was voiced originally when Montgomery was taken on as chief executive back in October (Newsline 23/10). Pressure grew at the end of last week as the MGN share price fell to 106p.