Categories: Economy

The Mirror owner becomes the target of a possible takeover offer by National World

Mirror publisher Reach becomes target of possible takeover bid from National World

  • National World is an investment vehicle managed by former newspaper director David Montgomery
  • It said last night it was considering a possible offer for Reach, though it has not yet approached the company directly

The owner of the Daily Express and Daily Mirror has become the target of a possible takeover bid

The owner of the Daily Express and Daily Mirror has been the target of a possible takeover bid.

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National World, an investment vehicle managed by former newspaper executive David Montgomery, said last night it was considering a possible offer for Reach, though it has not yet approached the company directly.

Reach confirmed that it has not yet received a direct approach from National World. Montgomery was previously the boss of Mirror Group – which took over in 1992 after the death of infamous former owner Robert Maxwell – before stepping down in 1999.

Mirror Group then merged with Trinity to become Trinity Mirror before renaming itself Reach in 2018.

The company faces a tough time with its share price plummeting 63 percent this year so far as it struggles to increase readership while grappling with rising printing costs for its newspapers.

Jacky

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