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Reported in The Guardian: Trinity Mirror has rebuffed a tentative approach for the People, after one interested party tried to test the publisher's commitment to the Sunday tabloid at a time when the newspaper group is in turmoil following the departure of its chief executive and two long-serving editors. A consortium fronted by the former Sunday Express editor, Sue Douglas, made contact with Trinity Mirror after the publisher dismissed Daily Mirror editor Richard Wallace and Sunday Mirror editor Tina Weaver and promised to rationalise the two newspapers into a single seven-day operation under the editorship of Lloyd Embley. That appeared to leave the smaller People isolated – its circulation in May was 462,329 compared to the Sunday Mirror's 1,094,265 – and presented an apparent opportunity for Douglas, who is heading a consortium raising money to launch an "ethically cleansed" popular Sunday newspaper. However, it is understood Trinity Mirror did not want to entertain negotiations. The People may be a small relative to the Sunday Mirror, but the title is run with a keen eye for costs, while its sales ensure the title makes a contribution to overheads and market share in the Sunday market. The Douglas project – a response to the News of the World phone-hacking scandal which led to the subsequent closure of the title – is still raising money from investors. Working with ex-ITV director of commercial Rupert Howell and others, the group is thought to be close to raising the funds needed – but has not reached that level yet. In April, she hoped the title would be "a reincarnation of the News of the World". "It would be mischievous, punctuating pomposity, exposing hypocrisy with a smile. We have gathered quite a lot of momentum and funding." Under Embley, the People was repositioned as a non-party political title, where it had previously been a Labour newspaper. The tabloid dates back to 1881 – making it 22 years older than the Mirror – and came into common ownership with the Mirror in the early 1960s.
And about time. She managed to oversee a share price collapse from £6.00 to todays value. Whoever takes over has got a major job to repair the credibility. Apart from Sly the rest of the board should go also IMHO
Looks like we are stuck in a trading range 25/28 approx. If someone was going to buy this dog ****e stock, the trading volume wood be alot higher, Interim results announcement early August. (Losing my patience, average sp mid 30s).
Getting rid of Sly early was a good idea imo because although she walked with a generous payout at least she will not be eligble for any bonuses next year. Very slowly this company looks like it is turning itself around. At least the market seems to think so - the share price has gone up or held steady on eight of the last ten trading days. Lets not forget that tni was trading at 53p just four months ago.
Good comment Abbs3, freehold property worth 177mil plus, not long ago all these so called experts were down grading Logica!!!!.
That's imaginative coming out with a price target of 25p when the share price has been around 25p for the last three weeks. But brokers always seem to get it wrong nowadays. Several analysts have commented recently that Trinity is probably the best potential media stock at the moment. Once there's a sniff of a turnaround, i.e. a like-for-like revenue increase, the share price could near double overnight. For medium term investors it is worth getting in now. The ridiculously low market capitalisation of only £66m could even attract potential bidders. Broken up, this company might be worth 70p or even 80p.
Singer cuts Trinity Mirror PLC to fair value from buy rating, price target now 25p from 71p. I had hoped that by getting shut of Sly Bailey and a couple of the old school editors and then hiring a forward thinking digital player would lift this share price out of the doldrums a little, but it seems we are still stuck around the mid 20s. Good luck everyone, unfortunately I'm out of this one for now.
If you were starting from scratch you might go about it a different way and you need to create space to ask those questions." It's a moot point whether Trinity Mirror can afford a strategy like this. Perhaps more than any British media business this PLC has had to justify its investments to shareholders and not look far beyond its quarterly results. It still makes money – but profits fell by 40 per cent to £74m last year. New chairman David Grigson will be looking for a change of direction and Ellis says he has been granted flexibility. "We are moving nimbly and I have the autonomy to do this," he says. "I want us to be a big digital innovator." Crucial will be the launch of the Mirror's app for iPad in July. Ellis gives a demonstration. "If you look at the marketplace you see products that go from very straightforward PDFs through to almost a weblike experience. What I think people want is something in the middle that looks and feels like a newspaper but with the benefits of interactivity." With Apple expected to launch a smaller and cheaper iPad before Christmas, this app could soon have a substantial new market of traditional red-top readers. "A lot of these will be sitting under Christmas trees and it will move to being a mass market product," says Ellis. "There are no silver bullets in this world but this is a large opportunity for us." i.burrell@independent.co.uk
From The Independent: "Where's the future of the newspaper business? In seeking an answer to this question, most experts would hardly rush to cite Trinity Mirror as an example, except perhaps as a lesson in what not to do. The group's chief executive Sly Bailey is leaving – forced out by shareholders for poor performance – and the editors of both the flagship Daily Mirror and Sunday Mirror were summarily fired last week. The circulation of the Daily Mirror, once in excess of five million copies a day, is struggling to stay above one million. Yet, in spite of everything, at Trinity's headquarters in the Canada Square tower at London's Canary Wharf, there is a surprising optimism that the organisation can be a model for the industry. The source of this hope is Chris Ellis, Trinity Mirror's managing director for digital, whose 22nd-floor office has inspiring views across east London to the Olympic stadium and Anish Kapoor's futuristic Orbit sculpture. Ellis talks unashamedly of his "lofty ambition", although many digital specialists will think he has his head in the clouds, given the spectacular stalling of the Mirror's relaunched website this year, when it temporarily lost 30 per cent of its traffic. He's not a newspaperman. But he has tasted the power of digital technology as chief operating officer of MySpace in Europe during that extraordinary period in the mid-to-late Noughties when the site briefly ruled the world, before crashing around Rupert Murdoch's ears. "I think it was the forerunner of social media as we see it today," says Ellis. "What it stood for was groundbreaking and turned out to be fulfilled, just not by MySpace." Trinity Mirror last week announced a seven-day publishing operation, brutally sacking Daily Mirror editor Richard Wallace and Sunday Mirror editor Tina Weaver, who opposed the change. While the personable Lloyd Embley, former editor of The People, will oversee the joint newsroom, it falls to Ellis to get the most from the website, introducing changes in design and technology. A year into the job, Ellis claims not to be distracted by the Mirror's great print rival. "I haven't spent any time thinking about The Sun since I have been here," he says. "I am worrying about what MSN have got on their home page or Yahoo News or AOL. That's my competitive set." This radical thinking extends to launching products with little connection to Mirror journalism. "Our plans go beyond traditional news – our ambition is much larger than that." In March he rolled out Happli, a "daily deals" business that has built a 100,000-subscriber base for offers from Mirror advertisers. This is a fresh perspective – and not one that Wallace and Weaver are likely to have had. "We have a number of digital properties that have really come out of the newspapers. If you were starting from scratch you might go about it a differ
Just got back from confession, i have also said a prayer to him/her above asking most kindly for the sp to move north asap.
Type in the drum modern marketing and media go to page 2 and scroll down.
http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/9306632/Trinity-Mirror-shares-rise-as-investors-bet-on-buy-out.html Lets hope there is some substance to this story and we see the sp in the 30s again this time next week.
I wonder if Mr Warren B is running the slide rule over the Cpny.
The fact that (ex)-editors may be planning a takeover indicates that Trinity is now oversold. The continued streamlining and cost-cutting along with the new online initiatives are likely to lead to a turnaround within the next 24 months or so. Trinity owns considerable assets and if it were broken up it could maybe realise three times the current market valuation. Now could be the time to get in/top up.
2milion share uncrossing trade at 4:35 is shown as a SELL in LSE while it is as a BUY in digital look. Dont know which one is correct. Any idea?
During her tenure as Chief Executive Officer Sly Bailey has reportedly trousered more than £14m in remuneration, even as the market value of the company crashed from more than £1bn to about £70m.
The shares rose a penny on the news to 27.25p but are still down almost two-fifths over the last year and only five years ago the shares were trading above 550p, a share price decline that was instrumental in bringing about the downfall of the extremely well paid Chief Executive Officer, Sly Bailey. Bailey served notice to quit at the beginning of May after shareholders expressed their anger that she was set to receive a £1.7m pay package for 2011, when the stock price fell 30%.
The Guardian newspaper reports that Wallace was accorded the traditional "banging out" from journalists who, although used to comings and goings in the editorial chair, were said to be shocked by the news. Trinity Mirror said the seven day organisation across the two titles will be enabled through the company's multi-million pound investment in the ContentWatch editorial system. The new structure will ensure that the Mirror's news-room is fully equipped to achieve the company's multi-media publishing strategy across its newspapers, online, mobile and new e-editions for tablet devices.
The Sunday edition of the "Current Bun" (The Sun) replaced the News Corporation's News of the World title, which was sacrificed as the Rupert Murdoch tried to limit fall-out from the phone hacking scandal. Lloyd Embley has been appointed Editor of the Daily Mirror and Sunday Mirror with immediate effect. Lloyd was previously Editor of another Trinity Mirror publication, The People. Daily Mirror editor Richard Wallace and Sunday Mirror editor Tina Weaver were given their marching orders on Wednesday morning before details of the switch to a seven day publishing model were revealed.
Trinity Mirror is moving to a seven-day publishing model with the Daily Mirror, after jettisoning Richard Wallace and Tina Weaver, the editors of the Daily Mirror and the Sunday Mirror, respectively. The move, which comes just one day after David Grigson officially took over as Chairman of the crisis-torn company, echoes the set-up of rival red-top tabloid The Sun, which recently moved to a seven-day publishing model when a Sunday version of Britain's best selling daily newspaper was launched.
From BBC: "The editors of the Daily Mirror and Sunday Mirror have lost their jobs as the two newspapers merge into one title. Publisher Trinity Mirror announced that Richard Wallace and Tina Weaver had been made redundant and would leave the company "with immediate effect". It added The People editor Lloyd Embley had been appointed to oversee both newspapers in the interim. Mr Wallace told the BBC he "had been sacked" and "did not resign". The publisher said two new editors will also be hired to run the weekday and weekend editions. It added both roles would report to Mr Embley and the new appointments, together with a new editor for The People, would be announced "imminently". Trinity Mirror said the decision to move to a seven-day publishing model was "a further step towards creating one of the most technologically advanced and operationally efficient newsrooms in Europe". It added it would also launch new e-editions of its papers for tablet computers." Lets hope that this is part of an initiative that will improve the bottom line.
http://www.guardian.co.uk/business/marketforceslive/2012/may/22/yell-digital-banking-covenants
the reason for my 19p and not 19.5 or 15p is not because i picked that number out of the air, it is in fact the lowest this stock has been in the last 5 years (2009) and was wondering if anyone else thought this could get back to its all time low. but thanks for you insightful responce that was as helpful as A=A. Of course when general wider market conditions impove TNI will/should improve