Yorkshire Post owner signals interest in buying Daily Telegraph
The regional title owner told shareholders it would evaluate ‘opportunities to grow the business and will consider participating in a sale process for Telegraph Media Group as and when such a process formally commences’.
Thursday 10 August 2023 15:34, UK
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A Daily Telegraph headline from June 2016.
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A Daily Telegraph headline from June 2016
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The owner of regional newspapers the Yorkshire Post and Scotsman have indicated it could be interested in buying the Daily Telegraph and Sunday Telegraph, should they be put up for sale.
If Lloyds, which took charge of the titles, along with the Spectator, after being sold by the Barclay family, were to put the papers up for sale, National World said it would “consider participating in a sale process”.
Lloyds is expected to sell the titles in an effort to recoup its investment, and a number of buyers have already been linked to the deal.
In a statement to shareholders on Thursday, National World said: “National World notes media speculation that it is a possible participant in the sale process surrounding Telegraph Media Group and its associated titles.
“As the company has previously announced, its growth strategy is rooted in actively exploring opportunities to build its business through acquisitions and implementing its new operating model for owned assets.”
It added: “The board continues to evaluate accretive opportunities to grow the business and will consider participating in a sale process for Telegraph Media Group as and when such a process formally commences.
“There can be no certainty that an acquisition will take place nor as to the terms of such an acquisition.”
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National World, which owns the likes of Portsmouth News and the Sheffield Star, took over JPI Media in 2021.
Earlier on Thursday, the National Union of Journalists (NUJ) said its 300 members at National World would be balloted on strike action, after the company offered a 4.5% pay rise.
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“The company’s pay award had been repeatedly rejected by more than a dozen NUJ chapels representing hundreds of National World journalists, followed by a vote of no confidence in David Montgomery, executive chairman,” the NUJ said.
“Despite talks with the publisher, including through Acas negotiations, urging an improved pay package, uplifts to minimum rates and efforts to improve pay disparities, National World has failed to present an enhanced pay award for journalists.
“The NUJ has repeatedly raised concerns over redundancies at the publisher after more than 50 journalists had their roles placed at risk.
“A separate voluntary redundancy scheme was also opened to all staff, including those outside editorial.”
