The Week: City News - Mirror offloads Racing Post

Trinity Mirror has ended its disposal programme, selling the Racing Post to FL Partners for £170 million, but will keep its Midlands and remaining South-East titles after failing to receive high enough bids.

The £170 million was around £30 million less than originally hoped for, and represents a multiple of 3.4 times 2006 revenues. As part of the deal, Trinity Mirror will donate £10 million to four horse racing charities specified by Sheikh Mohammed bin Rashid Al Maktoum, the owner of the rights to the Racing Post and the joint ruler of Dubai.