MEN ditched by Guardian

Banging round the ether for ages have been unconfirmed rumours that Trinity Mirror were going to buy the Guardian Media Group Regional Media incorporating the Manchester Evening News.

That has now been confirmed and the price is that of a top footballer: £45m.

Mind you given the business made an operating profit of nowt in the 12 months to December 2009, the Guardian Media Group (GMG) may have been extremely happy with the sum. According to one source: the transaction, due to complete on 28 March, involves GMG receiving £7.4m in cash, with the rest a handshake over Trinity Mirror releasing GMG from a long-term contract for printing MEN Media newspapers at its Oldham press.

The result of all this is that Trinity Mirror get 32 newspapers and associated websites including MEN Media which publishes 22 titles in the North West, and S&B Media which publishes 10 titles in the South, including the Surrey Advertiser and Reading Post.

The most prominent Trinity Mirror title up here is the Liverpool Echo. The company also owns the Daily Mirror.

Unsurprisingly Channel M hasn't been bought. This is a shame as they could have had a Liverpool version called Channel L, or even, as one office wag suggested, Channel RA.

Here's a couple of quotes from our friends at Crains Manchester Business:

Sly Bailey, Chief Executive of Trinity Mirror says: "GMG Regional Media is a perfect strategic fit for our Group. This acquisition, which includes the Manchester Evening News with its proud and rich journalistic heritage, together with the weekly titles and associated websites extends our reach across print and online and is a further step towards our strategic goal of creating a multi-media business of real scale."

Carolyn McCall, Chief Executive, Guardian Media Group, commented: "GMG is mandated to secure the future of the Guardian in perpetuity, and we have a strong portfolio which has to be in the right shape to achieve that goal. The Group board and the Scott Trust have made the decision to sell in light of these strategic objectives. GMG Regional Media is a good business and a publisher of important newspapers. However, we believe Trinity Mirror, as the UK's biggest regional publisher, is best placed to develop this business. This is an agreement that delivers real value for both parties."

As we stated on Confidential before Christmas (click here) shame on the Guardian Media Group for allowing this to come to pass. The baleful direction of the now departing Mark Dodson has brought this about, and that should have been corrected years ago.

What will happen now is anybody's guess but the word 'efficiencies' has already reared it's ugly head, as Trinity Mirror attempts to bring the two businesses closer together.

Three separate individuals who have worked for both GMG and Trinity Mirror have told Confidential that the manner in which the latter treats its staff will come as a shock to GMG employees. They better batten down the hatches, 'proud and rich heritage' or not.

Perhaps we'll end up with the Mancpool Echo News.

Last year Liverpool was up in arms because Trinity Mirror decided to publish its Liverpool titles in Greater Manchester. Meanwhile Rochdale and other Greater Manchester towns were angry because the MEN had decided to base their local Guardian Media owned papers in the city centre. It would be sort of poetic, if tragic, if the MEN became based in Liverpool.

However as we put this up it appears that the MEN will be leaving its city centre site and relocate to Hollinwood - where the Trinity Mirror printers are based. That's Hollinwood, east of the city centre, not Hollywood by the way, as our food writer Gordo just misheard it.

It's crazy times in media land.

Especially as The Guardian may have an underhand plot to launch a bespoke city website for Manchester, which could then use Channel M, as a broadcasting arm on Freeview.

In which case selling off the MEN, despite the fact that for many years the latter propped up the Guardian, might be a disloyal but sharp move. Weirdly then the Guardian will go into competition with the MEN.