Morgan confirmed as Press Gazette bidder

Former Daily Mirror editor Piers Morgan is one of three bidders for Press Gazette.
The magazine is the last remaining asset of
Quantum Business Media, the Croydon-based magazine publisher, which has
been broken up over the last few months.
Morgan is involved in one of the bids and is up against
two others.
Quantum Business Media chief executive Neil
Thackray said: “There are a number of bidders, as I speak we aren’t involved
in exclusive talks with anybody.” He said he expected the sale to be completed within the next two weeks.
Morgan has cash to spare. After he was sacked as
Daily Mirror editor in May last year over the fake torture pictures affair he claimed  unfair dismissaland secured a payout
estimated at £1.7 million. He banked another reported £1.2 million for
the rights to his memoirs The Insider.
Morgan has indicated that if he succeeds in his bid to buy Press Gazette he will invest in editorial.
He said: “Journalists deserve to have the best trade magazine
in the country and whoever owns it should love both
the industry and the people who work in it.”
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