Global law firm Norton Rose Fulbright has advised Trinity Mirror plc on its acquisition of Northern & Shell’s publishing assets for a total purchase price of £126.7 million. Northern & Shell’s publishing assets are a significant force in the UK media sector, with a portfolio of newspapers and magazines which comprise four national newspaper titles (the Daily Express, Sunday Express, Daily Star and Daily Star Sunday) and three celebrity magazines (OK!, New!, and Star) together with a 50% joint venture interest in the Irish Daily Star, outside the UK.
The purchase consideration is being satisfied in cash and new Trinity Mirror shares. Trinity Mirror has also made a one-off cash payment to the Northern & Shell Pension Schemes and a revised recovery plan has been agreed with the pension scheme trustees. Trinity Mirror has put in place a new term loan facility in connection with the acquisition.
Trinity Mirror is one of UK’s largest commercial news publishers with national and regional news brands across the UK, including influential and iconic brands such as the Daily Mirror, Sunday Mirror, Sunday People, Daily Record, Sunday Mail and market leading regional titles in key metropolitan markets across the country.
Chris Pearson, partner at Norton Rose Fulbright commented:
“We are delighted to have assisted Trinity Mirror on another successful acquisition in this sector which builds on our previous work for them on both the corporate and banking aspects of these deals.”
The Norton Rose Fulbright team was led by partners Chris Pearson and Claire O’Donnell. Partners Dominic Stuttaford advised on tax, Michael Ings on banking, Wasim Khan on real estate and Mike Knapper on intellectual property. The team further comprised of counsels Tim Waghorn, Nick Howard and Clare Jackman. Further assistance was provided by senior associate Christopher McCarthy and associates Sam Morrey, Laura Vasey, Elizabeth George, Tom Meredith and Alex Common.
For further information please contact:
Heledd Phelps-Brown, Head of Public Relations
Tel +44 (0) 20 7444 2890; Mob +44 (0) 77 0297 1352
Kate Farrell, Public Relations Executive
Tel: +44 (0) 20 7444 3724; Mob: +44 (0) 7515 324 290
Notes for editors:
Norton Rose Fulbright
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