Trinity Mirror Shares Rise as it Closes ‘New Day’
- Publisher of Daily Mirror cites integration of Local World
- `New Day' title to stop printing on Friday after 10 weeks
A man reads the 'New Day' newspaper on launch day, Monday, Feb. 29, 2016.
Photographer: Luke MacGregor/Bloomberg via Getty ImagesThis article is for subscribers only.
Trinity Mirror Plc, owner of Britain’s Daily Mirror tabloid, rose the most in 4 1/2 months as a decline in revenue slowed and the company projected cost savings next year as it integrates the recently acquired Local World newspaper group.
The shares rallied as much as 8.9 percent as Trinity Mirror also said it would close one of its newest titles. The stock was up 5.8 percent at 119.5 pence midday in London, for a market valuation of 339 million pounds ($490 million).