Results out this morning for Trinity Mirror confirm the continued impact of the advertising downturn on local papers.
Reporting its 2009 preliminary results,the company reported a 41 per cent drop in profits down to £72.7m, from £124.2m, with revenues down 11.8 per cent.
The group announced that its total costs had been reduced by over £60m with £40m of that being down to what it termed structural reorganisation.
It expects advertising revenues,already showing upward trends towards the end of last year, to improve in the current year.
Its chief executive Sly Bailey says that the board anticipates a satisfactory performance in 2010 whilst recognising the economic difficulties,and promised to keep the focus on cost cutting.
Showing posts with label trinity. Show all posts
Showing posts with label trinity. Show all posts
Thursday, March 04, 2010
Thursday, February 18, 2010
OFT may investigate MEN sale
It seems that last week's sale of the Manchester Evening News is not quite done and dusted just yet.
The Office of Fair trading is to step in to askfor representations about whether it should investigate Trinity Mirror's acquisition.
It will be worried that Trinity will be creating a near monopoly of news in the North West.It already has the Liverpool Echo in its stable as well as titles in Cheshire and North Wales
The Office of Fair trading is to step in to askfor representations about whether it should investigate Trinity Mirror's acquisition.
It will be worried that Trinity will be creating a near monopoly of news in the North West.It already has the Liverpool Echo in its stable as well as titles in Cheshire and North Wales
Wednesday, February 10, 2010
Manchester Evening News-good business move or the death of regional news
It is either the final death knoll of the regional paper or a sound business decision.
Yesterday's announcement that Guardian media group are finally cutting their ties with the city of Manchester must have made CP Scott turn in his grave.
After persistent rumour,the "unthinkable has happened at the Manchester Evening news will fall into the hands of Trinity Mirror.
To much wailing and protest by some who see TM as an asset stripper,the paper will move from its spacious glass house in Deansgate to the confines of Oldham.
Now for one,this may not be a bad move.The paper's journalism has been accused of being stuck in its city centre confines,unwilling or unable to respond to the needs of Greater Manchester as a whole.Maybe its journalism will get a better idea of what is going on as it looks down from the heights of Oldham across the urban surroundings.
As pure business sense,Roy Greenslade makes the point that
Trinity,for all their faults,at least have a semblance of a regional structure.Whether that will increase the provision of news in Manchester remains to be seen.
The fact that it has been sold for just £7.4m and the cancellation of a £37.4m print contract that had 10 years to run shows how desperate GMG was to sell.How we have fallen from the heady times of multi million pound regional newspaper deals!
Finally what will happen to Channel M not part of the deal.It has suffered dramatic cost cutting in the last twelve months.Their state of the art news collecting vehicles are no longer seen on the streets of Manchester and with Urbis converting itself to football matters it will only be a matter of time before they move out of their plush surroundings.
Yesterday's move could be seen as a major turning point in the provision of news in the city.Maybe an opportunity for the hyperlocal scene to take off or even a fresh breeze blowing through the current evening paper.
As with nearly all areas of the country,the events show that traditional regional news models no longer apply.
Meanwhile GMG can concentrate on pouring their resources into their flagship paper which by all accounts continues to lose money
Yesterday's announcement that Guardian media group are finally cutting their ties with the city of Manchester must have made CP Scott turn in his grave.
After persistent rumour,the "unthinkable has happened at the Manchester Evening news will fall into the hands of Trinity Mirror.
To much wailing and protest by some who see TM as an asset stripper,the paper will move from its spacious glass house in Deansgate to the confines of Oldham.
Now for one,this may not be a bad move.The paper's journalism has been accused of being stuck in its city centre confines,unwilling or unable to respond to the needs of Greater Manchester as a whole.Maybe its journalism will get a better idea of what is going on as it looks down from the heights of Oldham across the urban surroundings.
As pure business sense,Roy Greenslade makes the point that
It is a regional newspaper, in an industry which is buckling under the twin pressures of the credit crunch and the growth of digital rivals. Guardian Media Group, with its small disparate regional network, was not the organisation to pull the MEN out of that hole.
Trinity,for all their faults,at least have a semblance of a regional structure.Whether that will increase the provision of news in Manchester remains to be seen.
The fact that it has been sold for just £7.4m and the cancellation of a £37.4m print contract that had 10 years to run shows how desperate GMG was to sell.How we have fallen from the heady times of multi million pound regional newspaper deals!
Finally what will happen to Channel M not part of the deal.It has suffered dramatic cost cutting in the last twelve months.Their state of the art news collecting vehicles are no longer seen on the streets of Manchester and with Urbis converting itself to football matters it will only be a matter of time before they move out of their plush surroundings.
Yesterday's move could be seen as a major turning point in the provision of news in the city.Maybe an opportunity for the hyperlocal scene to take off or even a fresh breeze blowing through the current evening paper.
As with nearly all areas of the country,the events show that traditional regional news models no longer apply.
Meanwhile GMG can concentrate on pouring their resources into their flagship paper which by all accounts continues to lose money
Tuesday, October 20, 2009
Changes in Birmingham's local news market
So more changes in a media group signalling surely more straws in the wind for the local news industry.
Trinity Mirror have just announced that The Birmingham Post will become a weekly paper and the Birmingham Mail will become an overnight, morning title.
It has also been announced that both editors are leaving and that there will be about 40 editorial redundancies across the group and a further 42 redundancies from the transport, distribution and newspaper sales departments.
The weekly Post will begin publishing on the 12th November.
More opportunities for the local and community blogger?
Trinity Mirror have just announced that The Birmingham Post will become a weekly paper and the Birmingham Mail will become an overnight, morning title.
It has also been announced that both editors are leaving and that there will be about 40 editorial redundancies across the group and a further 42 redundancies from the transport, distribution and newspaper sales departments.
The weekly Post will begin publishing on the 12th November.
More opportunities for the local and community blogger?
Thursday, February 26, 2009
Trinity Mirror suffers as does regional advertising
More bad news for the regional newspaper industry as Trinity Mirror reveals a 22 per cent drop in operating profits for last year and says that advertsing revenues are falling buy 30% in the last couple of months.
What makes those figures is that regional ads are falling at a much greater rate than the nationals 37 per cent compared to 16 nationally.
It doesn't bode well for the regional papers if this is being seen over all regional titles
What makes those figures is that regional ads are falling at a much greater rate than the nationals 37 per cent compared to 16 nationally.
It doesn't bode well for the regional papers if this is being seen over all regional titles
Thursday, December 11, 2008
Johnston,Trinity and Mecom all drop out of 250
The fall in the share prices of the newspaper industry has seen Johnston Press,Triniy Mirror and Mecom all fall out of the FTSE 250.
After yesterday's culling of the index,Trinity Mirror was ranked 403, Johnston was at 540, and Mecom at 712.
It marks another black day for the media industry.
After yesterday's culling of the index,Trinity Mirror was ranked 403, Johnston was at 540, and Mecom at 712.
It marks another black day for the media industry.
Wednesday, November 19, 2008
Let's all blame Johnson Press
Who are getting rather a hit today what with the Scotsman website and now the Grey Cardigan who blames the Trinity Mirror pay freeze on the group
Stand back as the rest of the big regional groups gallop to follow suit. These greedy fools are wrecking our industry and inflicting misery on thousands of loyal employees, and all because Johnston Press - through acquisitions and back-of-house synergies - once hit a profit margin in excess of 35 per cent.
When the time comes to record the demise of this great game, that will be identified as the point that it all went tits up.
Thursday, July 31, 2008
Contrasting fortunes at Sky and Trinity
Two contrasting fortunes for media Companies this morning.
Sky continues to prosper announcing revenues that are up 9% and more importantly increases in subscribers up 92,000 at 8.98m.This in turn puttng 115on subscription revenues for the period.
Sky's CEO Jeremy Darroch said after the results
Over at Trinity Mirror meanwhile its half year revenues fell 8% based on plumetting advertising revenues.However it operating losses were trimmed back due in mai to the stringent costcutting across the companies 100+ locala nd regional papers.
Its Ceo Sly Bailey saying
Sky continues to prosper announcing revenues that are up 9% and more importantly increases in subscribers up 92,000 at 8.98m.This in turn puttng 115on subscription revenues for the period.
Sky's CEO Jeremy Darroch said after the results
"We have continued to grow strongly in a more difficult consumer environment. More customers are choosing Sky for a broader range of products and are staying with us for longer," While there is much uncertainty around the consumer environment, there remains good headroom for profitable growth in our core sectors. We are well equipped to meet customers’ demands for quality, choice and value; and we have a strong financial model to deliver growth and returns."
Over at Trinity Mirror meanwhile its half year revenues fell 8% based on plumetting advertising revenues.However it operating losses were trimmed back due in mai to the stringent costcutting across the companies 100+ locala nd regional papers.
Its Ceo Sly Bailey saying
The numerous actions we took during the period to reduce our costs and improve our efficiency, product portfolio and balance sheet have served to partially offset the impact of the serious downturn in advertising expenditure being experienced by consumer-facing media businesses.”
Monday, June 30, 2008
Trinity Mirrors the problems in the sector
With its half year results due in a months time,Trinity Mirror's profits warning earlier today has hit shares in the Company which publishes amongst many titles the Mirror,the People and 150 regional and local titles.
Its shares fell 25% as it warned that trading conditions would lead to a 10% fall in profits as well as announcing that it would cancel part of its share buyback programme.
The Company announced
which may well mean further job cuts and cost savings on top of those it has already announced.
For a good synopsis of the situation former Mirror journalist Roy Greenslade says
Its shares fell 25% as it warned that trading conditions would lead to a 10% fall in profits as well as announcing that it would cancel part of its share buyback programme.
The Company announced
"We have seen a marked year-on-year decline in advertising revenues across our businesses during May and June and this is expected to continue for the remainder of the year.
"In view of these difficult trading conditions and the uncertain outlook the group currently anticipates the full-year operating profit to be some 10pc lower than expectations.
"Month-on-month volatility remains and this could worsen as we trade through a very uncertain economic outlook.
"In the challenging advertising environment management continues to manage the cost base tightly and will continue to seek opportunities for further efficiencies in operations
which may well mean further job cuts and cost savings on top of those it has already announced.
For a good synopsis of the situation former Mirror journalist Roy Greenslade says
the group has been ailing for some time, desperately trying to cope with problems in both its regional and national divisions.but argues that though Trinity
may have been a little slow out of the blocks, but it has been pursuing an aggressive digital strategy, particularly in the last year. The trouble is that it isn't making the slightest difference to the numbers that matter.
Tuesday, June 10, 2008
Trinity Mirror looks at football blogs
A case of shutting the barn door after the horse has bolted.
Trinity Mirror's attempts to set up standalone club specific football blogs is surely missing the boat and trying to replicate something that has already been successful in the citizen joirnalism sector.
Journalism.co.uk reports that
Trinity Mirror's attempts to set up standalone club specific football blogs is surely missing the boat and trying to replicate something that has already been successful in the citizen joirnalism sector.
Journalism.co.uk reports that
The publisher quietly launched two blogs - about Everton and Liverpool football clubs - last month..
Neil Benson, director of editorial development for the group’s regional newspapers, told the World Editors Forum earlier this week that the publisher was looking at launching further football club blogs alongside other of its city newspapers
Wednesday, March 14, 2007
The face of the Convergent Newsroom
Is this the face of the convergent newsroom?
A report by Cardiff University says the Trinity are putting their Welsh titles at risk by investing in the web to the detriment of its news titles.
Interviews with journalists across the region have uncovered practices including staff being forced to do more work such as video and podcasts without extra pay and more importantly without adequate training.
The report says that journalists in Trinity's newsrooms are "very concerned about the changes in their working conditions but they do believe the digital newsroom represents the future of journalism".
They have five key areas of concern:
A report by Cardiff University says the Trinity are putting their Welsh titles at risk by investing in the web to the detriment of its news titles.
Interviews with journalists across the region have uncovered practices including staff being forced to do more work such as video and podcasts without extra pay and more importantly without adequate training.
The report says that journalists in Trinity's newsrooms are "very concerned about the changes in their working conditions but they do believe the digital newsroom represents the future of journalism".
They have five key areas of concern:
- Little investment in new resources
- increased workloads
- quality of multimedia news will be poor
- insufficient training
- No reward recognition in the form of pay
Th report goes on to say that Trinity faces a "stark choice as it moves online.It can continue to make cuts with an eye to maintaining short term profit margins and watch the quality of its news decline or it can invest in journalism with the aim of producing quality print and digital news products with a view to creating sustainable long term profits"
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