July 2, 2018updated 03 Jul 2018 11:03am

Paul Dacre sells £244,000 worth of DMGT shares ahead of stepping down as Daily Mail editor

Daily Mail editor Paul Dacre has sold more than £244,000 worth of shares in Daily Mail and General Trust, the company that owns the newspaper.

Dacre off-loaded the shares on Friday, three weeks after announcing he will be step down from editing the Mail later this year after 28 years at the helm.

Dacre sold 33,000 DMGT shares at £7.40 each on the London Stock Exchange. His total shareholding after the sale was not disclosed.

DMGT owns the Daily Mail, Mail on Sunday, Mail Online and Metro newsbrands.

Dacre sold the last of his DMGT shares in December 2013 for more than £347,500, but was latterly given more, including £1m worth in 2016 as part of a long term investment plan, external to his salary, benefits, and annual remuneration.

Dacre will become editor-in-chief and chairman of DMGT subsidiary Associated Newspapers from October this year and will resign from his role as board director of DMGT by the end of the financial year.

Mail on Sunday editor Geordie Greig is set to replace Dacre at the Mail.

Picture: Reuters/Toby Melville