David Montgomery buys Mecom shares after plunge

Mecom (MEC) direcotrs including executive chairman David Montgomery have purchased a large number of shares in the newspaper company after its share plunged yesterday after its broker, Numis Securities,cut its forecast for 2008 pre-tax profits from £128m to £102m.

According to the Times, Mecom plans to “bolster its online business to expand sales and become less dependent on newspapers”.

More in the Financial Times, Independent

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