The two biggest regional newspaper publishers in the UK have seen their share prices fall sharply following the vote in favour of Brexit on Thursday.
Trinity Mirror and Johnston Press, both of which publish close to 200 regional titles, saw price drops after the EU referendum result was delivered early on Friday morning.
Share prices for Daily Mail and General Trust (DMGT), owner of the Daily Mail, The Mail on Sunday and Metro, were also hit by the decision to exit the European Union.
Trinity Mirror closed Thursday’s trading with on 118.25p per stock. It opened Friday at 110p, a fall of 7 per cent. Its stock price has continued to fall today, reaching 97.9p at time of writing (3.15pm).
The publisher, which took over Local World in a £220m deal last year, backed the losing Remain side with the Daily and Sunday Mirror both declaring for Britain to stay in the EU.
The Mirror published a front page on the day of the referendum saying: “For your family, for your children, for your pension, for your pay packet, for jobs and the NHS, don’t take a leap into the dark, vote remain today.”
Johnston Press, which took over the i newspaper from Independent News and Media earlier this year, closed on Thursday at 27p per and fell as low as 20p on Friday. Its price was 21.6p at time of writing.
DMGT saw its share price fall from £6.47 at the close of trading on Thursday to £5.81.5 at time of writing.
DMGT’s Mail titles were split on Brexit, with the Daily Mail favouring Leave while the Mail on Sunday backed Remain. Metro remained neutral on the issue.