Trinity Mirror shares suffered a record one-day fall yesterday after the newspaper publisher admitted that advertising at the Daily Mirror and its sister titles had collapsed by between 12 per cent and 14 per cent in May and June.
Shares in newspaper group Trinity Mirror plunged 28 per cent yesterday after it said profits would be 10 per cent lower than expected.
US newspaper group Gannett is to reorganise its community publishing division.
As part of the reorganisation its current five regional groups will become four groups: East, South, Interstate and West.
“This reorganisation both refines our structure and puts our top people in key jobs with expanded responsibilities around the country,” said Robert Dickey, president of the US Community Publishing division.
“This will allow us to realign our strategic objectives and focus on top line growth as we go forward.
“In particular, I would like to welcome Laura Hollingsworth to the rank of group president. In a relatively brief time at the helm of the Des Moines paper, she has demonstrated great skill, leadership and savvy. She’s a fine example of the great up and coming management talent we have at Gannett.
“However, we will be saying good-bye to two outstanding executives who have been instrumental in the accomplishments of our division for several years. Barbara Henry and Denise Ivey will be sorely missed, but we wish them well as they move into the next phase of their lives,” Dickey said.
“We deeply appreciate all they have done for Gannett.”
The rejig also involves several executive appointments and two retirements.
The Ayrshire Post and Paisley Daily Express will be the next titles from Trinity Mirror’s Scottish division to be relaunched as standalone websites.
The new sites are part of plans to create individual websites outside of the ic umbrella sites for all of Scottish and Universal Newspapers’ (S&UN) 17 local newspaper titles.
The Hamilton Advertiser was the first title to go it alone in March and recorded 20,000 unique users in its first month of operation.
To run the new sites a new team of digital journalists has been recruited by the newspaper group led by S&UN head of digital Craig Brown and online editor John Hutcheson.
The remaining websites will be phased in over the summer, a press release from the company said.