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Surely such deals aim to cut costs by merging operations? Trinity Mirror has said the takeover will lead to £20m in annual savings, which means job cuts and the pooling of resources. Fox said that while certain areas will be sacrosanct, such as political writers, others such as sport will be subject to merger. One pool of writers will provide content for all five national newspapers. The competition regulator will scrutinise a deal of this size, which will give the enlarged Trinity Mirror group control of 24% of UK national newspaper sales. It may look to implement an initial enforcement order (IEO) to stop the two publishers integrating operations for a period of time while it looks at the deal. The culture secretary also has the option of intervening if there is considered to be a public interest issue such as media plurality. Trinity Mirror shareholders also have to approve the deal. Is this the end of Desmond’s time as a media mogul? Pretty much, yes. Part of the deal will see him become Trinity Mirror’s third-largest shareholder, but the sale will end his 44 years as a publisher, as he refocuses on property development.
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