Months of speculation about the future of Guardian Media Group’s regional media business is over – the group has announced today it will sell GMG Regionals to Trinity Mirror for a total consideration of £44.8 million.
Within the regionals group MEN Media publishes 22 titles in the north west of England, including the flagship Manchester Evening News; while S&B Media publishes 10 titles in the south of England, including the Surrey Advertiser and Reading Post. Both will go to Trinity Mirror.
Manchester-based TV station Channel M and GMG Regionals Woking titles will not be part of the deal, which is expected to complete by 28 March.
The deal also sees departures for GMG Regionals chief executive Mark Dodson and MEN Media chief executive Ruth Spratt. More significantly it marks the sale of the Guardian’s Manchester roots, as the paper was started in the city on 5 May 1821.
More to follow from Journalism.co.uk.
- Round-up: Reaction to GMG Regionals sale to Trinity Mirror
- Marc Reeves: Why is GMG selling the cash cow?
- GMG Regional Media chief exec confirms talks without naming Trinity Mirror
- Former Trinity Mirror employee Craig McGill on the GMG Regionals sale
- Media Guardian: ‘Massive reduction’ in GNM’s loss next year, says chief executive McCall