DMGT in “informal” talks to buy Express Newspapers

 

Sky News City editor Mark Kleinman is reporting in his blog that The Daily Mail and General Trust have held “informal” talks with Express Newspapers owner Richard Desmond about buying his newspapers.

The future of Express Newspapers has come up in several reports in recent weeks. The Sunday Times reported yesterday that Goldman Sachs is looking at options for Desmond’s newspaper titles. Fusion DigiNet reported last week that Barclays Capital has been appointed to sell the magazine business, including OK magazine.

The possible change of direction follows Desmond’s move into mainstream television with the acquisition of Channel Five last September in a £100m deal.

In his blog, Kleinman says: “Any deal resulting in the merger of the Express and Mail titles would mark an extraordinary rapprochement between the two proprietors, who for several years fought an almost-daily feud through the pages of their newspapers.

“The two men are now said to get on reasonably well, and I understand both believe that a deal could be in their interests.”

He added: “It’s not clear who initiated the discussion between Desmond and Rothermere (sources in each camp tell me that the other was responsible for doing so).

“To be clear, Desmond may yet choose not to sell his newspapers.”

Read Mark Kleinman’s blog

UK, London

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