Express & Echo owners 'in talks over future of business'

The newspaper group which owns Exeter's Express & Echo is widely reported to be in talks over the future of the business. Northcliffe Media is apparently in negotiations over a deal to pool its regional titles with another company. Both the Sunday Times and Financial Times said the deal was being led by David Montgomery, the former Mirror Group CEO. The FT said talks were at an advanced stage but sources warned they could still fall through. Northcliffe, which is part of the Daily Mail group, has suffered serious circulation declines in recent years. Revenues have also suffered due to advertising migrating to the internet and rising print costs. The Express & Echo was one of a number of titles the group switched from daily to weekly publishing a year ago as part of a radical review. However, it was the worst performing title according to the latest industry figures down 13.1 per cent in the six months to June Then it was selling 21,132 copies a week compared to the average previous daily sale of 16,586. Six years ago, an offer to sell Northcliffe for £1.2 billion was reportedly turned down.  The new deal is said to be valued at £110m. The Reuters news agency quoted a Daily Mail and General Trust spokesman as saying: "DMGT confirms that it is currently in talks regarding the future of Northcliffe Media. "No deal or transaction has been agreed, but if these talks move to the point where agreement is reached, an announcement will be made to the market."