DMGT: Mergers needed for regionals 'brave new world'
Greater consolidation is needed for Daily Mail and General Trust.
Daily Mail and General Trust finance director Peter Williams has said greater consolidation is needed to make the transition to a "brave new world" in the regional press.
Williams said DMGT's regional press division, Northcliffe Media, would not look to lead any consolidation process but that consolidation was needed.
In a management statement yesterday, DMGT revealed that Northcliffe - which is the UK's fourth biggest regional newspaper publisher - was still struggling to emerge from the recession.
The statement said in the three months to January, Northcliffe axed more than 200 jobs (eight per cent of its workforce) while revenue was £59m - a six per cent year-on-year drop.
On the job cuts, Williams told Press Gazette that they had been across the business - covering admin, sales and editorial roles.
He said: "There hasn't been any big redundancy programme. It has been across the board, we haven't replaced people that have left."