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Ex-News of the World editor eyes newspapers for new publishing venture, reports say

Ex-News of the World editor David Montgomery is looking to buy up newspapers to form a new publishing company, it has been reported.

Montgomery (pictured), who created regional publisher Local World, is eyeing “struggling newspaper publishers” to bring under his new company National World, the Daily Telegraph has reported.

The ex-Mirror Group chief executive holds more than 75 per cent of shares in the new publisher, formerly private firm Carno Capital Ltd, which has £100,000 of total assets, according to Companies House filings.

The Telegraph reported yesterday that the 70-year-old could bid for the i newspaper and Scotsman titles from owner JPI Media, which Press Gazette has already revealed to be in talks about selling off its titles.

Rival publisher Reach, the owner of the Mirror and Express titles, has also confirmed that it is in the “early stages” of talks to buy “certain assets” from JPI Media.

Telegraph sources told the newspaper that Montgomery could also have his eye on Newsquest titles after its US parent company, Gannett, was bought out by a rival publisher in a £1.1bn deal.

The Drum news website reported in May last year that Montgomery had approached broadcaster London Live with a takeover proposal.

Former Reach finance director Vijay Vaghela is among National World’s shareholders and directors.

Montgomery is reportedly keen on using the Carbon advertising system on acquired websites to better target audiences and improve ad revenue returns on traffic, according to the Telegraph.

The former tabloid editor launched regional publisher Local World in November 2012, following a merger between the Northcliffe and Iliffe regional news groups.

Local World was sold to Trinity Mirror in a £220m deal three years later.

Picture: Reuters

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