Friday 30 July 2010

DMGT: 'Not talking to anyone about Northcliffe'

DMGT financial director Peter Williams is quoted on MediaGuardian today ruling out a report that its regional newspaper arm, Northcliffe Media, could be sold to either Trinity Mirror or Johnston Press in a major consolidation of the regional press sector.
He said: "We said internally [following the report] that we are not talking to anyone and there is no expectation of talking. We have said that we can understand why consolidation is a good thing for regional media. But we don't wish to be the consolidator."
Northcliffe Media's total revenues for the quarter to 4 July this year were down by 4% to £66 million, a similar underlying percentage decline to that experienced in the previous quarter, the Daily Mail and General Trust reported in an interim management statement this week.
Advertising revenues were 4% below prior year levels. By major category, both retail and recruitment revenues were 6% lower, but in contrast, property revenues were 9% above last year. Digital revenues were 10% above prior year levels, driven by strong property and motors revenues. July has seen similar trends. Circulation revenues fell by 5% compared to last year.
DMGT reported revenue for the third quarter £508 million, down 2% on last year, but up 6% on an underlying basis.
Martin Morgan, chief executive, said: "Trading in the third quarter has continued to reflect the generally positive trends in our international B2B and UK consumer media businesses, although we remain wary about the medium term outlook, particularly in the UK."

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