- David Montgomery, the embattled chief executive of the Mirror Group, is expected to quit the company sometime today according to newspaper reports this morning.
Montgomery is expected to go rather than force a showdown with his chairman, Sir Victor Blank, who sees him as a barrier to any possible merger talks.
Two sets of talks have collapsed in recent weeks. First with regional newspaper company Trinity and then with rival regional publisher Regional Independent Media.
Montgomery's allies at the company are thought to have been persuaded to abstain from voting on Sir Victor's threatened motion to remove him, leaving him with little support.
In a further blow Montgomery was told yesterday by fund manager PDFM, the Mirror Group's largest shareholder with a 22 per cent stake, that it would support Sir Victor if it came to a showdown.
Both Sir Victor and PDFM support a merger with Trinity. Such a merger would bring together the publisher of the Mirror and Sunday Mirror with Trinity's regional titles, which include the Liverpool Echo.