Jan 16, 2017
Daily Mail deals blow to newspaper collaboration
The parent company of the Daily Mail has pulled out of talks to create a new joint advertising sales operation for the struggling UK national newspaper industry, dealing a major blow to Fleet Street's efforts to combat structural decline. The initiative, known to newspaper executives as 'Project Juno', was launched last summer as media groups looked for new ideas to address an alarming fall in print advertising that has wiped millions of pounds from newspaper revenues. The Daily Mail is the second-biggest selling daily newspaper in Britain, with sales of 1.5m. In a statement, DMG Media said that, following the completion of the latest phase of research on the project, it had "Stepped back" to pursue its own "Broader commercial priorities" in 2017. "The project companies remain committed to finding greater scale for advertisers through our digital and print channels," said a spokesperson for the remaining newspaper groups. News of the setback to Project Juno comes a week after Trinity Mirror, publisher of the Daily Mirror and the UK's biggest local newspaper group, confirmed that it was in talks with Richard Desmond about a potential sale of a minority stake in his Express and Star newspapers.
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