Reports suggest Richard Desmond is exploring selling Daily Express - Press Gazette

Reports suggest Richard Desmond is exploring selling Daily Express

Richard Desmond is reportedly exploring the possibility of selling the Daily Express.

According to the Financial Times, Desmond has asked “long-term advisers Barclays to sound out buyers for the title”.

The FT reported that it is not clear whether a deal would include the Daily Star titles or Desmond’s celebrity magazines, including OK.

In July, Express Newspapers announced plans to cut editorial staff by 200, from 650 to 450.

In October, the National Union of Journalists accused Desmond of “wilfully running his newspapers to the ground” after parent company Northern and Shell announced an operating profit of £37m for 2013.

In the spring, Desmond sold Channel 5 to Viacom for £463.3m.

Desmond, who bought the Express in 2000, was reported earlier this month to have pledged £300,000 to UKIP.

He bought Express Newspapers from United News and Media in November 2000 for £125m.

During this month, the Daily Express’s circulation averaged 1,033,858, according to ABC, and it has never achieved this level since. Its circulation now stands at 457,062.

During the same period the Sunday Express’s circulation rose above its November 2000 circulation of 950,802, but now stands at 404,892.



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