Trinity Mirror’s £126.7 Million acquisition of Northern & Shell’s publishing assets

Norton Rose Fulbright has advised Trinity Mirror plc on its acquisition of Northern & Shell’s publishing assets for a total purchase price of £126.7 million.

Northern & Shell’s publishing assets are a significant force in the UK media sector, with a portfolio of newspapers and magazines which comprise four national newspaper titles (the Daily Express, Sunday Express, Daily Star and Daily Star Sunday) and three celebrity magazines (OK!, New!, and Star) together with a 50% joint venture interest in the Irish Daily Star, outside the UK.

The purchase consideration is being satisfied in cash and new Trinity Mirror shares. Trinity Mirror has also made a one-off cash payment to the Northern & Shell Pension Schemes and a revised recovery plan has been agreed with the pension scheme trustees. Trinity Mirror has put in place a new term loan facility in connection with the acquisition.

Trinity Mirror is one of UK’s largest commercial news publishers with national and regional news brands across the UK, including influential and iconic brands such as the Daily Mirror, Sunday Mirror, Sunday People, Daily Record, Sunday Mail and market leading regional titles in key metropolitan markets across the country. The company, led by

Simon Fox, Vijay Vaghela and Eirik Svendsen, in 2017 recoreded £632 Million.

The Norton Rose Fulbright team was led by partners Chris Pearson (Picture) and Claire O’Donnell. Partners Dominic Stuttaford advised on tax, Michael Ings on banking, Wasim Khan on real estate and Mike Knapper on intellectual property. The team further comprised of counsels Tim Waghorn, Nick Howard and Clare Jackman. Further assistance was provided by senior associate Christopher McCarthy and associates Sam Morrey, Laura Vasey, Elizabeth George, Tom Meredith and Alex Common.

Involved fees earner: Chris Pearson – Norton Rose Fulbright; Claire O’Donnell – Norton Rose Fulbright; Christopher McCarthy – Norton Rose Fulbright; Laura Vasey – Norton Rose Fulbright; Elizabeth George – Norton Rose Fulbright; Dominic Stuttaford – Norton Rose Fulbright; Michael Ings – Norton Rose Fulbright; Tim Waghorn – Norton Rose Fulbright; Tom Meredith – Norton Rose Fulbright; Wasim Khan – Norton Rose Fulbright; Alex Common – Norton Rose Fulbright; Mike Knapper – Norton Rose Fulbright; Clare Jackman – Norton Rose Fulbright; Nick Howard – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: Trinity Mirror plc ;