Trinity Mirror

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Trinity Mirror plc
Type Public
Traded as LSETNI
Industry Publishing
Founded 1903
Headquarters One Canada Square
Canary Wharf, London, England
Key people David Grigson (Chairman of the board), Simon Fox (CEO)
Products National and regional newspapers, magazines
Revenue £761.5 million (2010)[1]
Operating income £138.0 million (2010)[1]
Profit £113.3 million (2010)[1]
Employees 6,500 (2010)[2]
Website www.trinitymirror.com

Trinity Mirror plc is a large British newspaper, magazine and digital publisher. It is Britain's biggest newspaper group, publishing 240 regional papers as well as the national Daily Mirror, Sunday Mirror and People, and the Scottish Sunday Mail and Daily Record. Its headquarters are at Canary Wharf in London. Listed on the London Stock Exchange, it is a constituent of the FTSE SmallCap Index.

History[edit]

The Daily Mirror was launched by Alfred Harmsworth for gentlewomen in 1903.[3] The company was first listed on the London Stock Exchange on 2 December 1953.[4]

In 1958 the International Publishing Company (IPC) acquired Mirror Group Newspapers, but IPC was in turn taken over by publishing giant Reed International in 1970.[5] In 1984 Pergamon Holdings, a company owned by Robert Maxwell, acquired the Daily Mirror[3] from Reed International. The Company was relisted as Mirror Group in 1991.[6]

The company went on to buy Scottish & Universal Newspapers in 1992, and in 1997 it acquired the Birmingham Post and Mail.[3]

Trinity Mirror was formed in September 1999 by the merger of Trinity plc, a company formed in 1985 to buy the Liverpool Post and Echo, with Mirror Group plc. As a condition of the merger Trinity Mirror was forced to sell the Belfast Telegraph group.[3] The next year, the company acquired the regional publisher Southnews.

During 2005 the company introduced a number of measures to manage discretionary spending more carefully, some of which attracted press attention.[7]

In 2007 the company sought to sell a number of titles: the Reading Chronicle was sold to Berkshire Media Group[8] and 25 Trinity Mirror South titles were sold to Northcliffe Media.[9] On 1 October 2007 it was announced that the sale of the Racing Post had been completed: the entire sale process had raised £263 million.[10]

In September 2008 the company announced that it would be closing the printing plant in Liverpool after 154 years of printing in the city, and transferring the work to Oldham.[11]

In February 2010, Trinity Mirror acquired the regional M.E.N. Media and S&B Media divisions of the Guardian Media Group, containing 22 local titles across Northern England and in Surrey and Berkshire; this includes the Manchester Evening News and Reading Evening Post.[12]

In March 2010, Trinity Mirror stated that it will end its bout of staff cuts and newspaper closures. The announcement came as the company reported pre-tax profits of £72.7m for 2009, exceeding analysts expectations.[13]

In January 2012 it was announced Trinity Mirror acquired Communicator Corp, a digital communications company specialising in email and mobile communications for £8m.[14]

In August 2013, Trinity Mirror announced its partnership with whocanfixmycar.com, a portal connecting motorists nationwide with trusted local garages and mechanics.[15]

In June 2014, Trinity Mirror transitioned its online bingo software from Dragonfish to Virtue Fusion from Playtech for its group of bingo brands.[16]

Phone Hacking[edit]

In January 2011, former MP Paul Marsden announced that he was considering taking legal action against Trinity Mirror, over alleged phone hacking. He said he believed he may have been a victim of hacking by a journalist working for a Trinity Mirror title in 2003. At that time, a number of phone hacking allegations had been made against the News of the World, but Marsden’s allegation was the first specific claim to be made against another newspaper.[17]

On 24 September 2014, Trinity Mirror admitted for the first time that some of its journalists had been involved in phone hacking.[18][19] It admitted liability and agreed to pay compensation to four people who had sued for the alleged hacking of voicemails (entertainer Shane Richie, soap actresses Shobna Gulati and Lucy Benjamin and BBC creative director Alan Yentob). The four also received an apology. Trinity Mirror also announced that it had earlier settled six other phone hacking claims in relation to former England football manager Sven-Göran_Eriksson, footballer Garry Flitcroft, actor Christopher Eccleston, showbusiness agent Phil Dale, Richie's wife Christine Roche and Abbie Gibson, a former nanny of David and Victoria Beckham. As of September 2014, a further 19 claims were registered at the High Court and another 10 claimants had indicated they would bring proceedings against Trinity Mirror. The company is thought to have set aside £8m to £9m to settle phone hacking claims and legal costs.[20]

Other reports claimed that the number of victims could be much higher, with Dr Evan Harris, associate director of the pressure group Hacked Off describing the revelations as: “… just the tip of a very big iceberg”.[21]

Following the admissions, shares in the group closed at 178.75p, down by 1.24 per cent.[22]

Operations[edit]

Newspapers[edit]

For more details on this topic, see List of Trinity Mirror titles.

Trinity Mirror's printing division, Trinity Mirror Printing Ltd,[23] is located at nine press sites throughout the UK, printing and distributing thirty-six major newspapers for the UK, including the Daily and Sunday Mirror, The People, the Daily Record (in Scotland), and other contract titles including titles for the Guardian Media Group.[24] Trinity Mirror also owns a number of local titles in Northern England and in Surrey and Berkshire, after acquiring a number of titles from the Guardian Media Group in 2010. For a list of local and national titles owned by Trinity Mirror, see List of Trinity Mirror titles.

Digital[edit]

In 2013, Trinity Mirror launched the content websites UsVsTh3m and Ampp3d on an experimental basis. UsVsTh3m is a website similar to Buzzfeed focused on quizzes and Flash games, edited by B3ta founder Rob Manuel and running the Tumblr platform. Ampp3d is focused on data journalism [25][26] and uses the WordPress platform.

Subsidiaries[edit]

References[edit]

  1. ^ a b c Annual Report 2010. (PDF).
  2. ^ Our Company. Trinity Mirror (22 February 1999).
  3. ^ a b c d Trinity Mirror: History[dead link]
  4. ^ London Stock Exchange. London Stock Exchange (2 December 1953).
  5. ^ IPC Media website. Ipcmedia.com.
  6. ^ Maxwell Scandal Timeline. Accountancyage.com.
  7. ^ Trinity Mirror "cancels Christmas"[dead link]
  8. ^ Trinity Mirror sells Berkshire Regionals for £10m. The Guardian (19 July 2007).
  9. ^ Fenton, Ben. (7 July 2007) Northcliffe buys 25 titles from Trinity Mirror. Financial Times.
  10. ^ Edgecliffe, Andrew. (1 October 2007) Trinity Mirror calls halt to disposals. Financial Times.
  11. ^ Up to 100 jobs at risk as Trinity Mirror plans to close Liverpool print plant. The Guardian (5 September 2008).
  12. ^ "Manchester Evening News sold by Guardian Media Group". Manchester Evening News. 9 February 2010. Retrieved 2010-02-09. 
  13. ^ "Trinity Mirror to stop cutbacks". 4 March 2010. Retrieved 5 March 2010. 
  14. ^ "Trinity Mirror buys email and mobile firm Communicator Corp for £8m". 
  15. ^ http://www.trinitymirror.com/pressrelease/trinity-mirror-launches-whocanfixmycar/1946
  16. ^ "Trinity Mirror Transitioning to Virtue Fusion". bingoreviewer.co.uk. 6 June 2014. 
  17. ^ BBC News (January 2011). “Phone-hacking: Review to consider new claims”, BBC News, 24 January 2011. Retrieved 29 September 2014.
  18. ^ Gallivan, Rory and Zekaria, Simon (September 2014) “Trinity Mirror Admits Liability Over Phone Hacking”, Wall Street Journal, 24 September 2014. Retrieved 29 September 2014
  19. ^ Sweney, Mark (September 2014). “Trinity Mirror faces up to the financial fallout as phone-hacking claims mount”, The Guardian, 28 September 2014. Retrieved 29 September 2014.
  20. ^ BBC News online “Phone-hacking: Trinity Mirror admits liability”, BBC News online, 24 September 2014 (Retrieved 29 September 2014)
  21. ^ Cusick, James and Milmo, Cahal (September 2014). “Trinity Mirror 'could face hundreds of claims' from phone hacking victims”, The Independent, 24 September 2014. Retrieved 29 September 2014.
  22. ^ Smith, Oliver (September 2014). “Trinity Mirror admits phone hacking liability”, City A.M., 25 September 2014. Retrieved 29 September 2014.
  23. ^ http://www.trinitymirrorprinting.co.uk/contact-us.html Trinity Mirror Print Division
  24. ^ Oldham's Economic Profile - Printing & Publishing, oldham.gov.uk. Retrieved 29 March 2007.
  25. ^ Guardian, http://www.theguardian.com/media/2013/dec/08/trinity-mirror-usvsth3m-buzzfeed
  26. ^ http://ampp3d.mirror.co.uk

External links[edit]