The Financial Statement is now available to download:
Financial Statement (pdf, 157k)
The Preliminary Results presentation took place at 9:30am this morning. The presentation and webcast playback are available on the Financial Results page.
While the cost of final salary pension provision continues to increase, closing the Group's defined benefit pension schemes to future accrual will help limit the increase in liabilities. This will help the Group to fulfil its commitment to eliminate the current deficit.
As a result of the consultation and listening to scheme members' concerns, the Group has made a number of valuable enhancements which will benefit members of both the defined benefit and defined contribution schemes. These include an increase in Group contributions, an increase in matching options up to 10% and financial advice at retirement.
GMG Regional Media, which publishes 32 newspapers and associated websites, is formed of two operating businesses: MEN Media and S&B Media. MEN Media publishes 22 titles in the North West of England, including the flagship Manchester Evening News and Metro. S&B Media publishes 10 titles in the South of England, including the Surrey Advertiser and Reading Post. Trinity Mirror will not be acquiring Channel M, the TV station for Greater Manchester and the two local newspapers in Woking.
The businesses made an operating profit of £nil in the 12 months to December 2009 and have gross assets of £8.7 million. The total consideration is £44.8 million as set out below.
The transaction is due to complete on 28 March 2010.
Sly Bailey, Chief Executive, commented: "GMG Regional Media is a perfect strategic fit for our Group. This acquisition, which includes the Manchester Evening News with its proud and rich journalistic heritage, together with the weekly titles and associated websites extends our reach across print and online and is a further step towards our strategic goal of creating a multi-media business of real scale."
Carolyn McCall, Chief Executive, Guardian Media Group, commented: "GMG is mandated to secure the future of the Guardian in perpetuity, and we have a strong portfolio which has to be in the right shape to achieve that goal. The Group board and the Scott Trust have made the decision to sell in light of these strategic objectives. GMG Regional Media is a good business and a publisher of important newspapers. However, we believe Trinity Mirror, as the UK's biggest regional publisher, is best placed to develop this business. This is an agreement that delivers real value for both parties."
Ancillary Information:
Analysis of consideration
£m
Release of long term printing contract
37.4
Cash payable on completion
7.4
Total consideration
44.8
Further enquiries:
Trinity Mirror plc
Nick Fullagar 0207 293 3622
Director of Corporate Communications
Two leading executives from the worlds of live news television and multiplatform production have joined the bid team of Trinity Mirror, Press Association and Ten Alps in bidding for the English regional Independently Funded News Consortium contract to the Department for Culture, Media and Sport.
Nigel Dacre, former editor of ITV News and former Chief Executive of multiplatform channel Teachers TV, has joined through his new media company Inclusive Digital. He is providing overall coordination of the bid.
Tom Gutteridge, founder of Mentorn, one of the first and most successful UK independent TV production companies, is joining along with new, Newcastle-based production company Standing Stone, of which he is Chairman. He is managing the TV programming side of the bid. Tom is also Chair of the Skillset North Media Industries Panel.
Alex Connock, CEO of Ten Alps, said:
"We are really privileged to be working with both of these executives. Nigel has a superb understanding of both live news and multiplatform and we have worked together successfully a great deal in the past. Meanwhile we have wanted to work with Tom on creating popular factual TV programme formats for at least a decade, and this is the perfect opportunity. Plus as a resident of Northumberland, Tom also has the North East in his DNA, which is an enormous plus."
Nigel Dacre said "I have enormous respect for the three companies in the consortium, and I am looking forward to working with them during the tender process. It's a fascinating opportunity to play a role in the development of a completely new approach to regional news - one which brings together local journalism, TV production, and the latest digital developments in an exciting and ground-breaking way."
Tom Gutteridge said "I've been involved in many groundbreaking new concepts in television in my career, but this has to be one of the most daunting. Redesigning local news coverage is like reinventing the wheel. I grew up with the regional news in the North East, and one of my first jobs as a BBC News Trainee was in the television newsroom in Newcastle. But the opportunity to be part of a team creating a whole new multi-platform offering for the North East and Cumbria is incredibly exciting. We hope our plans, if successful, will form the blueprint for local news provision throughout the UK."
Teesside University and Newcastle College have joined as partners of the Tyne Tees and Border consortium which is bidding to run the regional TV news pilot in England.
Two weeks ago CN Group were also confirmed as partners of the consortium which was originally set up by Trinity Mirror, Press Association and Ten Alps.
Vice-Chancellor of Teesside University, Professor Graham Henderson, said: "Teesside University is very enthusiastic about the development of a local television service in the Tees Valley and looks forward to supporting its growth.
"As a Skillset Media Academy the university is already recognised for its expertise in this area and provides both undergraduate and postgraduate programmes in television and media production.
"The convergence of television with the internet also offers significant opportunities for the university and its industry partners to be at the forefront of both technology and programme-making in a digital, multiplatform future."
Chief Executive Jackie Fisher from Newcastle College Group, said: "We are delighted to be involved in this bid and look forward to working with our partners in the consortium. Newcastle College offers a wide range of specialist courses, including those associated with the creative and media industries.
"This is an innovative partnership which will be of immense value to the region. It offers our students and staff a unique opportunity to contribute to the provision of local and regional news, taking full advantage of the college's specialist facilities and working on live projects alongside media professionals. It will ensure that we can respond to the rapidly changing media industry and further strengthen the employability skills that our students need to succeed in their future careers."
Neil Benson, spokesman for the consortium, said: "Teesside University and Newcastle College bring a fresh dimension to our bid. We have enjoyed close and very successful relationships with both these academic institutions in the past so we know they have a hugely positive outlook, excellent facilities and a very talented and eager body of students who will contribute a great deal to the bid."
]]>A website aimed at fostering society's media literacy skills has been set up by the members of the Media Corporate Social Responsibility Forum - a group of organisations working to develop social responsibility and environmental sustainability for the media sector.
Building on the Forum members' work on media literacy,
howmediaismade.com was launched to signpost the innovative work like Trinity Mirror's "Catch 22" programme have done to improve the level of media literacy of their audience and within their communities.Learning and continuing to develop media literacy skills enables us to discriminate between fact, fiction and opinion. The website features
case studies, a resources section and a headline creator for everyone curious about what media companies are doing to tackle this important issue.You can find more information about the forum and its members here:
www.mediacsrforum.org]]>The paper's defence correspondent Rupert Hamer, 39, was killed. Photographer Phil Coburn, 43, was seriously injured.
The incident occurred while the pair were on patrol with US Marine Corps
Rupert was married to Helen with three children aged 6, 5 and 19 months. He had been a Sunday Mirror journalist for 12 years and had regularly reported from
Phil, 43, has been with the paper for eight years and worked with Rupert in
Everyone at the Sunday Mirror and Mirror Group sends their deepest sympathies to Rupert's wife, his father Nick and family.
And we wish Phil a speedy recovery and send our warmest wishes to his family.
Sunday Mirror Editor Tina Weaver said: "Rupert believed that the only place to report a war was from the front line, and as our defence correspondent he wanted to be embedded with the
"He left on New Year's Eve with photographer Phil Coburn, determined to be there from the start.
"He was a seasoned, highly-regarded and brave journalist who had reported from both
"One of his last acts was to organise a special Christmas newspaper produced solely for the troops packed with messages from loved ones which was flown out by the RAF three weeks ago.
"He was a fine, fearless, and skilled writer who joined the paper 12 years ago. Affectionately known as Corporal Hamer in the office, he was a gregarious figure, a wonderful friend who was hugely popular with his colleagues.
"Above all he was devoted to his wife Helen and their three young children. Our thoughts and condolences are with Helen, his father Nick, who he was so close to, and the children he was so proud of."
"Phil is a veteran of conflicts in
"He is a consummate all round journalist and brilliant photographer whose pictures grace any newspaper.
"He and Rupert made a dedicated team, working together around the world, sacrificing personal comfort countless times to record the reality of wars.
"We wish Phil a speedy recovery and send our warmest wishes to his partner and family."
The developments reflect a significant investment in TMS and will ensure the portfolio - both print and online - remains relevant to readers and advertisers.
As a result, from Friday January 15th the Fulham and Hammersmith Chronicle will be launched and distributed as a free weekly title to over 72,000 homes in the borough.
This move will dramatically increase household penetration in the borough, taking it from just over 20% to nearly 99%.
The paper will be complemented by an upgraded and rebranded website - www.fulhamchronicle.co.uk - providing up to the minute news and sports coverage.
As part of these developments TMS is in the process of recruiting an additional full time Multimedia Journalist.
Additionally, the Kensington & Chelsea News and the Paddington, Marylebone & Pimlico Mercury will be renamed the Kensington & Chelsea Chronicle and the Westminster Chronicle respectively.
These titles will become a hybrid with free distribution once a week (Friday) to over 42,000 homes in those boroughs while also being available for sale in newsagents.
Under the new plans the London Informer will cease publication.
Simon Edgley, Managing Director of Trinity Mirror Southern, said: "The changes to our publishing strategy and the investments we are making will enable us to reach and inform a wider audience than ever before, which will in turn, benefit the local communities we serve.
"The regional press has always had a strong and proud tradition of keeping citizens informed about their communities and campaigning on local issues, and I believe the progressive steps we are taking here will considerably enhance our position in that hugely important role."
]]>The independently run media business publishes newspapers in
Robin Burgess, Chief Executive of CN Group, said: "We are delighted to be joining Trinity Mirror, the Press Association and Ten Alps in tendering for the Tyne Tees and Border ITV regional news franchise.
"We have been serving the people of
"Having been directly involved with Border Television from its foundation until it was sold to
Neil Benson, spokesman for the consortium, said: "We are delighted that CN Group has joined our consortium.
"Their unrivalled knowledge and coverage of
"CN Group adds considerable weight to our proposition and we are absolutely convinced we have the ideal blueprint for the English TV news pilot."
The group is still in discussions with a number of organisations and will announce further partnerships in early 2010.
As part of this high-profile partnership The Daily Mirror and Sunday Mirror will be the sole, official national newspaper partners.
The partnership, which kicked off this weekend (
There will also be monthly editorials promoting the Bupa Great Run Series, British Gas Great Swim Events and "Take to the Streets" - a campaign aimed at getting the nation active, fit and healthy.
Brendan Foster, founder of Nova International, said: "I am delighted that Trinity Mirror are joining forces with us as media partners to support our mass participation events and the Take to the Streets campaign. This is the most significant national newspaper partnership Nova has entered in to. We are confident that it will further raise the profile and prestige of our portfolio of events and campaigns to get people active across the
As part of the deal the Daily Mirror will run an exclusive ballot for 3,000 readers to win an entry to the Bupa Great North Run, and even those who are unsuccessful will automatically be entered into the general ballot.
Mirror branding - including advertising boards and promotional stands - will appear at all events and in all event websites, emails, pre-race information and runner magazines.
The Daily Mirror will also produce post race supplements for the main running events listing all finishers' race times.
Eugene Duffy, Managing Editor of the Daily and Sunday Mirror, said: "We are delighted to have secured this partnership and we look forward to working closely with the team at Nova International.
"This is an exciting development for the Mirror, and we believe it is an ideal fit for our readership and will further broaden the awareness of these events and campaign."
Trinity Mirror has announced an exclusive partnership with Sportech plc to bring the Football Pools to its newspaper titles.
The Daily Mirror will lead the charge as it today brings the popular Football Pools game back to its readers.
The historic reintroduction is announced with a four-page pullout in the title's Mania football supplement today which will include the first coupon and every Tuesday the Mirror will carry an editorial column which will include that week's football coupon.
Hot on the heels of this will come the revival of the much-loved Spot The Ball game in the paper, which will use classic football images from the Mirror's unrivalled football photo archive.
Both the Football Pools and Spot The Ball games will also be available to play on the Mirrorfootball.co.uk website, along with a host of additional pay-to-play, football-related predictor games.
Conor Hanna, Deputy Editor of the Daily Mirror, said: "The Football Pools and Spot the Ball are classic games which are part of the fabric of football history in this country.
"We are delighted to be reviving them in the Daily Mirror's sports pages and across all our editorial and gaming platforms."
Ian Penrose, CEO of Sportech, said: "Many of the readers of The Daily Mirror will have played, or known, the classic Football Pools and Spot the Ball in the past, and we are pleased to be able to introduce these traditional games, in conjunction with Trinity Mirror, into the newspaper in a simple, easy-to-play format.
"This represents another important step in revitalising the Football Pools at the start of this important World Cup year."
]]>Scotland's biggest newspaper publisher, Trinity Mirror, yesterday announced a historic partnership with leading TV production company Macmillan Media to produce local television news for the south of Scotland.
The consortium - which includes the Daily Record, the Dumfries and Galloway Standard and community groups - is bidding to give the region back its voice on TV.
Trinity Mirror and Macmillan Media aim to deliver a fresh, value-for-money approach as part of the government's pilot scheme to support local media in Scotland.
Bulletins would be produced entirely in Dumfries and Galloway and the Borders. At the moment the service comes from Gateshead.
Video journalists working in the heart of the region's towns and villages would provide an enhanced local news service.
The bid is supported by Scotland's best local and national newspapers - the Dumfries and Galloway Standard, the Galloway News and the Daily Record and Sunday Mail.
The service will have its own companion website and provide open access and multimedia training for community groups.
Sly Bailey, Chief Executive of Trinity Mirror, said: "This will give communities in the south of Scotland back their voice on TV.
"With our partners Macmillan Media, we aim to deliver an enhanced, low-cost model for the local TV news of the future."
Macmillan Media is the only independent production company to supply broadcast news for terrestrial television in the UK, providing GMTV's bulletins for Scotland and Northern Ireland.
Owner Michael Macmillan has been at the forefront of television broadcast journalism for the past three decades with ITN and the BBC.
He said: "Our combination of multimedia journalism skills will deliver the TV news service that the south of Scotland demands and deserves."
Trinity Mirror has also launched a bid for the English news pilot in the Tyne Tees and Border ITV regions, with Ten Alps and the Press Association.
]]>In addition, apps for the Daily Mirror and Daily Record will be launched free of charge in the coming months, followed by further apps throughout 2010.
The apps have been in development for a number of months and aim to extend the reach of the traditional Trinity Mirror newspaper brands as well as the scope of the newly-launched standalone websites Mirrorfootball and
Head of Interactive and
"Brands have demonstrated that it is possible to successfully position themselves in both the mobile internet market and applications market and benefit from both.
"We're confident that these apps can increase our brands' reach and expose them to a new user base. Meanwhile advertisers will benefit from the enhanced user experience that the iPhone offers coupled with the millions of visitors pulled in by the App Store."
They are expected to be available from the App Store in the New Year.
In this expanded role Kelly, currently Associate Editor of the Daily Mirror, and his team will be responsible for the creation and development of the division's growing portfolio of digital sites.
He will also work closely with the advertising and marketing teams to ensure that the division maximises revenues from the Nationals digital business.
Mark Hollinshead, Managing Director Trinity Mirror Nationals Division, said: "Matt has proved he has the perfect blend of skills for this position as he manages to balance creativity with strategic insight and commercial acumen. This is a key appointment as we look to further enhance and develop our digital ambitions."
Kelly led the development of mirrorfootball.co.uk and 3am.co.uk which both launched earlier this year.
In his new role Kelly will continue to report directly to Richard Wallace, Editor of the Daily Mirror.
]]>Arena BLM were chosen following a three-way pitch and will begin working with Mirror Group in the new year.
Pedro Avery, Managing Director, Trading & Engagement of Arena BLM, said: "We are delighted to be working with the Mirror Group and are thrilled to be partnering with them as they continue to build and evolve their trusted and well-respected brand."
Lorraine Fraser, Director of Marketing, Trinity Mirror Nationals, said: "Following a competitive pitch process we appointed BLM as we were highly impressed with their insights, strategy and creative thinking. We look forward to working in partnership with BLM to take our media planning to the next stage."