Deals

Desmond Said in Talks to Sell U.K. Papers to Trinity Mirror

  • Companies said to be near agreement on sale of newspapers
  • Deal would unite Brexit-backing Express, left-leaning Mirror

Richard Desmond

Photographer: Dan Chung/Camera Press via Redux
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Richard Desmond is in talks to sell his U.K. tabloids to rival Trinity Mirror Plc in a deal that would mark the billionaire media baron’s departure from British newspaper publishing, according to people familiar with the matter.

An agreement is close but isn’t guaranteed, said the people, who asked not to be identified discussing private information and declined to provide financial terms. Trinity Mirror is expected to confirm the talks in an official statement to the London Stock Exchange on Tuesday, one of the people said. One option is for Trinity Mirror to buy a minority stake rather than outright control of the publications, one of the people said.