Lord Ashcroft 'backing newspaper merger'
Conservative peer Lord Ashcroft is among those said to be set to back a new vehicle aimed at merging two regional newspaper groups.
Posted by David Gleck
Lord Ashcroft is reported to be considering an investment in a new venture that will merge a pair of newspaper groups.
The Conservative peer - recently made a privy councillor by prime minister David Cameron - is said to be one of the possible investors, alongside Trinity Mirror, publisher of the Labour-supporting Daily Mirror.
Under the plan, regional newspaper groups Northcliffe Media and Iliffe News and Media will be brought together in the group, which will be owned by an investment vehicle established by former News of the World editor David Montgomery.
The business negotiations between Mr Montgomery and Lord Ashcroft may determine just what level of involvement the peer has in the venture.
Another newspaper group that may be involved in a takeover bid is New[s]International, which owns UK titles like the Sun and the Times.
It has been widely reported touted as a rival bidder to Random House for publisher Penguin's books business.
Source: Sky News, Hold the Front Page, October 31st