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“What We Have Here Is A Failure to Communicate” -- No, Not Cool Hand Luke But The Daily Mail to Gannett And Others As The Northcliffe Regional Newspaper Group Is Taken Off the Table.
Philip M. Stone February 20, 2006
When the Daily Mail and Trust Group (DMGT) put the Northcliffe regional newspapers up for sale last November they let it be known they were looking for numbers in the £1.5 billion range -- about 11 times the group’s annual cash flow and reflecting a prosperous well-run entity. What it got was numbers in the £1.2 – £1.3 billion range -- not quite fire sale figures but certainly taking into account the current soft UK regional newspaper advertising picture. Result: DMGT says it is keeping the newspapers after all.

 

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