View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. Media Business
February 29, 2016

Pay for Trinity Mirror chief exec Simon Fox rises to £2.3m as profit falls £16.4m

By Dominic Ponsford

Regional and national newspaper publisher Trinity Mirror has announced operating profit down £16.4m to £82.2m for 2015 on turnover down £44.6m to £592.7m.
Chief executive Simon Fox saw total pay and benefits for the year rise to £2,349,000, compared with £1,678,000 in 2014. His salary was flat year on year at £499,000 but he received £1,620,000 from a long-term incentive plan.
The group reported that in December 2015 its total monthly website unique users (excluding the newly-acquired Local World titles) total was 100 million.
Digital revenue rose £10.4m for the year to £42.8m. But revenue from print still provides the vast majority of income and it fell from £521.6m to £458.9m.
The company made a provision £29m last year for the cost of dealing with civil claims arising from the widespread past use of phone-hacking at its national titles. A charge of £12m was made for phone-hacking in 2014.
Some £20m was cut from costs last year, £10m ahead of budget. Trinity Mirror plans to cut £12m from Local World's costs through synergies. A target of £20m has been set for cost savings this year.
In November Trinity Mirror completed a deal to buy the 80 per cent off Local World which it did not already own. There was a clause enabling it to sell the Cambridge News and sister weekly titles back to Iliffe News and Media for £15.8m. Trinity has instead decided to hang on to these titles and pay a £2m break fee.
Read the Trinity Mirror annual report for 2015.

Topics in this article :

Email to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network