Tales from the Vault: Red Mirror

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GreenMirror replied

25 February 2019, 14:44
Once the UK creates the fake news legislation they will fold.
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AtW started a topic Tales from the Vault: Red Mirror

25 February 2019, 13:56
Tales from the Vault: Red Mirror

Mirror owner warns over Brexit as it makes £200m writedown

Reach, which also owns Daily Express and Daily Star, reports £120m pretax loss for 2018

Reach, the publisher of the Daily Mirror and Daily Express, has warned about the impact of Brexit, as it made a £200m writedown on its newspaper business that pushed it into the red for 2018.

The company, formerly known as Trinity Mirror, posted a pretax loss of £120m last year after writing down the value of its goodwill, publishing rights, titles and buildings, against a profit of £82m in 2017.

Total revenues increased by 16.2% to £723.9m following the acquisition of the Brexit-supporting Express and Star titles from Richard Desmond last year.

However, on a like-for-like basis focusing only on Reach’s pro-Labour, pro-EU titles the Daily Mirror, Sunday Mirror and Sunday People, revenues were down by 6.6%.

Mirror owner warns over Brexit as it makes GBP200m writedown | Business | The Guardian
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