Daily Mirror publisher on track after Express acquisition

Britain’s left-wing Daily Mirror and the right-wing Daily Express will keep their identities despite having the same owner (AFP pic)

LONDON: Reach, the British newspaper publisher that bought the Daily Express and the Star in February, saw its third-quarter revenue rise 21% thanks to the acquisitions, although underlying ad demand remained weak.

The company, which publishes the Daily and Sunday Mirror, said like-for-like group revenue fell 7%, with circulation and print advertising revenue down 4% and 20% respectively.

Chief Executive Simon Fox said he was pleased with the progress being made on the integration of Express & Star and the group was on track to deliver at least 20 million pounds ($26 million) of annual synergy savings by 2020.

The company said on Monday it was confident it would meet market expectations for full-year adjusted pretax profit, which range from 132.1 million to 133.9 million pounds.