Trinity Mirror to close nine local newspapers in the Midlands
Posted by Simon Day on July 3, 2009 at 11:43 AM
U.K newspaper group, The Trinity Mirror, has revealed the proposed closure of nine local newspapers in the Midlands area, a move that will see 120 jobs lost, The Financial Times reported on Thursday.
The Trinity Mirror has already closed 27 titles, sold four regional newspapers and cut 1,200 staff over the past 12 months.
The Trinity Mirror has already closed 27 titles, sold four regional newspapers and cut 1,200 staff over the past 12 months.
The closures will affect weekly newspapers, offices and printing presses around Coventry and across the Midlands. The papers to be closed include the Loughborough Trader Xtra, Lichfield Post, Tamworth Times, Burton Trader, Ashby Trader & Echo, Coalville Echo and Walsall Observer newspaper.
Georgina Harvey, managing director at Trinity Mirror Regionals, said: "These actions announced today are designed to protect our Midlands businesses. We are seeking volunteers from within affected groups in order to minimize any necessity for compulsory redundancies."
"In addition we are offering the opportunity for staff in other parts of our Midlands businesses not affected by these proposals to volunteer for redundancy."
Local newspapers had been given brighter future predictions by analysts, conditional on regional consolidation. Such consolidation would be facilitated by the relaxation of competition laws allowing cheaper and smoother mergers.
The analysts believe this would allow the regional "big four," - Trinity Mirror, Johnston Press, Newsquest, owned by Gannett in the US, and Northcliffe, the regional arm of Daily Mail & General Trust, - to become the "big two."
Sly Bailey, Trinty Mirror chief executive, has described the rate of the company's changes as akin to high speed running repairs with, "no room for error."
Ms Bailey said the company is aiming for cost savings of £25m in 2009 on top of £30m saved last year.
Georgina Harvey, managing director at Trinity Mirror Regionals, said: "These actions announced today are designed to protect our Midlands businesses. We are seeking volunteers from within affected groups in order to minimize any necessity for compulsory redundancies."
"In addition we are offering the opportunity for staff in other parts of our Midlands businesses not affected by these proposals to volunteer for redundancy."
Local newspapers had been given brighter future predictions by analysts, conditional on regional consolidation. Such consolidation would be facilitated by the relaxation of competition laws allowing cheaper and smoother mergers.
The analysts believe this would allow the regional "big four," - Trinity Mirror, Johnston Press, Newsquest, owned by Gannett in the US, and Northcliffe, the regional arm of Daily Mail & General Trust, - to become the "big two."
Sly Bailey, Trinty Mirror chief executive, has described the rate of the company's changes as akin to high speed running repairs with, "no room for error."
Ms Bailey said the company is aiming for cost savings of £25m in 2009 on top of £30m saved last year.
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