DMGT executive Steve Auckland to be CEO of Local World
By John Reynolds, mediaweek.co.uk, Wednesday, 21 November 2012 09:41AM
Steve Auckland is to become chief executive of the new regional newspaper group Local World, which Daily Mail & General Trust (DMGT) confirmed it has sold its regional business to for £52.5m.
DMGT today (21 November) confirmed that it has sold Northcliffe Media to Local World, an entity that will combine the Northcliffe regional titles with those of Iliffe News & Media Limited. Trinity Mirror is also an investor in the new business.
DMGT has sold the titles – which include the Hull Daily Mail, Leicester Mercury and Bristol Evening Post – for £52.5m in cash, along with a 38.7% stake in the new business.
Local World will house more than 100 local newspapers in all.
Auckland is currently chief executive of Northcliffe Media and previously ran the now-defunct free title LondonLite, as well as free morning sheet Metro.
He will work alongside David Montgomery, previously chief executive of the pan-European newspaper group Mecom, who will be chairman of the new group and is one of a number of investors in the newspaper group.
The disposal of Northcliffe Media by DMGT is expected to trigger further consolidation in the sector, which is battling circulation declines and falling ad revenues.
DMGT tried to offload Northcliffe for around £1.5bn in 2005, but failed to find a buyer.Follow @johnreynolds10
This article was first published on mediaweek.co.uk
- Senior Marketing Director - 9-12 month FTC Comedy Central £competitive, Camden, London (Greater)
- Mid-weight Digital Designer Source £30000 - £35000 per annum, London
- Junior Digital Designer (Sports) Propel £22000 - £28000 per annum + Excellent Benefits, West London
- Direct Marketing Executive Direct Recruitment £25k-£28k, London (Greater)
- Senior Channels Marketing Manager Direct Recruitment £60k+bonus, bens, London (Greater)
- Comparethemarket.com first UK brand to run Facebook Premium Video ads
- Guinness Africa launches 'made of black' campaign with Kanye West ad
- Twitter launches learning hub for agencies
- Game Of Thrones actress stars in online Karen Millen campaign
- McDonald's launches 40th anniversary campaign
- Models strip in River Island's first TV campaign