Regional newspapers, the BBC and holding authority to account, thanks to the taxpayers and…a bit of flatulence

The BBC is to pay £8m to provide reporters who will cover local councils.

The BBC is to use £8m of taxpayers’ cash to provide reporters who will cover local councils for regional newspapers as well as the Beeb.

Caught between the devil and the deep blue sea. On the one hand, I still believe in that brand of journalism we call Fourth Estate, or holding authority to account.

So for the BBC to hand out £8m to pay for 150 journalists to ensure this happens can only be good news for the regional press, can’t it?

But I can’t help but feel uncomfortable about the deal. I’m all for journalists covering local councils, but feel uneasy that this is happening as many newspaper groups continue to cut editorial staff.

Even as we speak, Trinity Mirror is cutting jobs as part of its £12m synergies after the takeover of Local World.

The problem I have is that these newspaper groups, such as Johnston Press and Trinity Mirror continue to make a healthy sum of cash.

However, despite this, they are still in many cases unwilling to cover local authorities. One reason is due to the fact that there are simply not enough staff and the second reason is that editors, even reluctantly, are making the decision not to cover this type of news.

This is because they are constantly looking over their shoulders as they attempt to hit their unique users/page views targets.

The reality is, that rarely do council stories interest the online audience in large numbers. So as an editor, if you are faced with getting the audience with a story about toilet habits which will get big hits or send to a council meeting, the hits are coming out on top.

We all accept the need to grab a slice of readers, so writing about farts being healthy, yes farts, as the Plymouth Herald recently did may just be the way forward because it would have attracted a huge audience.

As an aside, this story has one of the greatest apologises I have seen…under the story (see link above) it read: ‘This story was edited on May 5, 2016. The story originally stated that sniffing farts is good for you and helps you live longer. The Herald is happy to make clear that the research in question has not found that to be the case.’

I bet there was a riot in the newsroom as this carefully crafted apology was put together.

Right…so back to the main plot. I guess what I’m saying is that many newspapers are choosing not to write about councils and would rather right about something else.

If this is the case, why should the taxpayer pick up a bill to pay for reporters when the companies they serve already earn a decent amount?

Also, there are concerns that newspapers will take the ‘BBC’ paid reporter and then slice a job somewhere else.

Inevitably, there has also been an uneasy relationship between the BBC and the regional press. I attended a meeting last year and there was discussion over a pilot scheme where regional newspapers and the BBC were meant to be sharing content.

It was certainly more than an awkward conversation and smacked of an inability for them to work successfully together.

So, the dilemma, or is it a dilemma? The newspapers companies have certainly done well here. They get a reporter for free and the BBC picks up the tab.

I hope it works, but who is going to be out there counting the increase in local council coverage or will it be a case of gone with the wind…???

By the way, I have mentioned that I have an interesting tale about a newspaper skills audit process which will make your toes curl, that’s on its way soon.

Should Trinity Mirror have invested in regional newspapers rather than cost-cutting and creating the doomed New Day?

Trinity Mirror's New Day has closed after nine weeks.

Trinity Mirror’s New Day has closed after nine weeks.

I feel no joy over the closure of Trinity Mirror’s New Day. Like any journalist, in these difficult days for newspapers, the opening of the paper, in the shadow of the closure of The Independent, was a little ray of sunshine.

But we all knew, didn’t we? All of us cynics felt it would never work. I was optimistic and privately said it would close after six months, so for it to fold after nine weeks even left me for dead.

In my blog discussing the launch of the New Day I said that I couldn’t understand why the paper was being opened.

There was some bizarre talk of a gap in the market and the chance to sell 200,000 copies. I said at the time was it just a case of sour grapes after TM failed to buy the i?

Who really knows what were the thoughts behind opening the paper? There have been mumblings about trying to encourage people who don’t buy a newspaper to buy this one.

How or why the great powers of Trinity Mirror thought this would work is unsure.

Figures suggest there are 4.5 billion users of mobile phones. These people are not going to spend 50p to buy their news when they can get it for free on their phone at their convenience.

What is for sure, the move to set-up a newspaper without a web site flew in the face of TM’s digital first strategy.

Of course, if it had been a success, TM chief executive Simon Fox would have been heralded, but in the cool light of day success was never on the agenda.

Some commentators have said that you have to praise innovation and at least TM tried. I agree with this philosophy but I can’t get over the fact that failure was just too obvious.

So TM splashed out £5m to advertise the new product, the campaign was poor to say the least with no-one really understanding what the product was about.

It was meant to be ‘politically neutral’ and the news agenda different to the rest of the national market, but it failed.

The design of the paper and the journalism just didn’t break new ground, watching the adverts left you scratching your head wondering who the paper was really targeting?

It is no coincidence that the closure came as the TM share price hit a three-year low on Tuesday at around 113p and ‘bounced’ back on the announcement of the closure by seven per cent, still a long way below last year’s 180p.

The National Union of Journalists has been asking for all the costs involved in the set-up and failure of the newspaper.

It also expresses concern over what will happen to the 25 editorial staff?

What we do know, as I said earlier, is that £5m was spent on advertising the New Day, so you can add on a few millions of extra cost.

At the AGM yesterday, TM bosses were shouting about the £12m ‘synergy savings’ or integration with the former Local World newspapers.

This is code for a load of staff cuts sweeping across the old Local World titles. This made me think.

Rather than spending millions on the dead duck New Day, what if that cash had been used to pour back into the local newspapers, an investment in the future rather than just slicing off costs?

Surely it would have been better to use money to help established businesses rather than create something that was always going to fail?

I maybe naïve, but it is worth a thought and it fits into the innovative, creative thinking arena as opposed to the slash and burn.

Talking of redundancies, a friend of mine rung to talk about how he was booted out of a local newspaper based on the good old skills audit.

Now the skills audit is meant to be fair…but only in fairy tales. More of that little horror story another time.

 

 

The sad demise of the monsters of the darkroom…do you really need newspaper photographers anyway?

Quietly, under the cover of darkness, newspaper photographers, those wonderful beasts who used to prowl the dark rooms, are slowly being picked off.

Even as I write this, photographers have lost their jobs at my old newspaper, The Sentinel, Stoke-on-Trent. This manoeuvre to give snappers the red card has been replicated across the country for sometime.

For Local World newspapers, like The Sentinel, once they were swallowed up by Trinity Mirror the writing was on the wall that cost-cutting was round the corner.

This was back up by TM’s chief executive Simon Fox announcing £12m would be cut from LW’s costs through synergies.

The trauma for anyone who has been through the process cannot be under-estimated, particularly as you go head-to-head with your friends and colleagues as management pull-out the much-maligned skills audit.

It is a particularly unpleasant process, relished only by those who don’t have a heart.

Then there’s the guilt felt by those who aren’t in the firing line this time, guilt that they feel relieved, but fear, that they could be next.

In this day and age when everyone has a camera and editorial departments can harvest content, do you really need fully trained photographers?

In this day and age when everyone has a camera and editorial departments can harvest content, do you really need fully trained photographers?

As I scanned the Sentinel’s latest bygone offering, I wondered whether in years to come a publication like this could be produced, with fewer and fewer snappers around to take those essential photographs, marking history, telling great stories.

I was moved by the thought that the problem was starting to emerge already with photographs which had already appeared in numerous publications reappearing again.

It’s called re-purposing content, but how long can this be maintained? There’s hardly a reader out there who have never seen the photos before and if there are fewer staff photographers, where is the content coming from for future publications?

But then again, if you are just after some quick income and a few sales, this is the way to do it.

Of course, you will argue, you don’t need photographers any longer do you? Everyone is a photographer…really?

Today, we all carry a camera via our phone and in an instant can report a story and upload it online for all to see. All journalists of the future have to be multi-skilled and that includes the ability to take photographs.

It’s easy isn’t it?  You don’t need quality photographs because there’s no need for that pinpoint focus if the pictures are going online, no artistry here, just one click and away.

Then there’s the other reason for the demise of the togs. Depending on which media empire you sit in, it’s called harvesting or curating content, which in layman’s terms means beg and borrowing pictures from elsewhere, that usually means you, me and anyone else who picks up a phone to capture a moment.

Look at the recent attacks in Belgium. How many messages did you see on Twitter with reporters pleading for pictures and video? So if everyone else is taking pictures, why do you need a professional snapper?

In a way, I can’t disagree. If you are going to make cuts to appease your shareholders, desperate times bring desperate measures.

It started with slashing and burning the editions, getting rid of those great copy takers and newsdesk secretaries and then onwards to the grey cardigan brigade in the subs department and the odd editor or two who had the nerve to stand up for his staff.

For photographers, there has been a bit of trimming around the surface over the years, some newspapers got rid of all their full-time staff and re-employed some of them as freelances while others have just cut to the flesh.

So what about photographers? Do you love or hate them? I have nothing but fond memories of these editorial heroes. I accept their deficiencies in the caption spelling department or their artistic rants when the wrong picture went in. I accept that one of my most common rants was over the quality of the pictures and that a certain photograph wasn’t good enough, I phrased it in harsher tones at the time…

However, they offered a lot more. Photographers are great story finders, better than many reporters because they were always out on the streets, listening, watching and talking.

A good photographer would be gone for a day before they would return with a clutch of great pictures and a ‘must’ for Page 1 and, by the way, here’s a great story I just picked up.

Often, as a reporter they saved my bacon. With a camera weighing a few pounds and a bag the size of a baby elephant, I always felt secure knowing that a photographer was one my shoulder riding shotgun while covering a difficult story.

Working with them was often a joy, particularly on the great snatch picture stories. As the tog hung around hidden in the bushes, I’d knock the door, wait for it to be answered, move slightly to my left or right and boom, snatch picture in the bag.

I remember going to Wolverhampton Magistrates’ Court once for a bizarre case involved a man dressed as the Lone Ranger who dropped his trousers in public.

It was going to be difficult to get a picture so the idea was that I walked in front of him as he left court to slow him down and sway left or right for the tog to get the picture. It worked a treat despite some comedian shouting out, ‘where’s Silver?’.

There was always tension between photographers and newsdesk. The news editor sitting on stories and pictures for days much to the disgust of the photo editor realising that there was a front page picture in the building, but they couldn’t use it until the news editor released the story.

This relationship worked in reverse. As a senior member of the editorial team I was sometimes presented with a half-baked front page story and needed something else to make it work.

So often, that was a brilliant photograph. I will go as far to say that my best-ever front pages were because we had great photographs.

Of the awards won by newspapers, more often than not it was the great design that won the day and the design was made by a brilliant picture.

As for the communities local papers serve, it was always a highlight when the photographer popped in, much of this is now gone. The world is a poorer place.

So I may have moaned, groaned and fought with photographers, but their diminishing presence in a newsroom is a significant blow, they will be sadly missed, but then again, we can all take pictures, can’t we?

Trinity Mirror’s New Day, what’s going on? Plus, why the digital revolution is on the march in regional newspaper land

New Day. Not exactly an inspiring name for a newspaper, it sounds more in-keeping with a name given to a church newsletter. But let’s not be gloomy. One paper gone, The Independent, another one arrives.

I’ve read extensively around why TM wants to launch the paper today, with stories of gaps in the market and a large untapped audience, plus a commitment to newspapers, but, unless there’s some deep intelligence I’m unaware of, I can’t make too much sense of it.

New day

Many pundits have been surprised that Trinity Mirror has launched a new newspaper and I ap;laud the company for its bravery.

I can only think that TM has thrown its dummy out of the pram at not acquiring the i newspaper and decided to go head-to-head with it.

On the other hand, maybe TM still realises deep down that there’s still cash to be made in print. Remember, don’t be fooled by the web revenues, as I have said before, some newspaper firms are creaming off money from print advertising income to make online look better.

Of course, there’s nothing wrong with this, except it is hiding the reality that online will never make-up for the decline in print revenues.

So back to the launch of New Day, ok, I’ve only seen one copy, but if this is the future of newspapers then I’m slightly perturbed. You have to wonder who will buy it?

I have said that many were surprised by the launch of a new newspaper because it goes against the TM philosophy which is completely committed to the web, just look at its online figures for the regional press and then the sad newspaper sales figures.

Also, look at the fact that TM is already introducing its 3:1 newsroom into the former Local World editorial newspapers. Sorry, apparently it’s not former Local World, just Local World, despite being taken over…I wonder why that is?

While my former colleagues thought that the so-called ‘transformation’ under David Montgomery was huge, this is in a different league, it’s digital, digital, digital, oh, and a bit of newspaper.

A student, aged 18, asked me the pertinent question of the week: ‘Why has it taken newspapers so long to buy into the digital world?’

The question was spot on.

Back in the dark ages, about 1999, I entered my office in Lincoln and the only way to get online was by dial-up…and that didn’t work.

By that time Northcliffe did have news web sites, but the desire for them to be a success just wasn’t there, someone even told me that ‘hell would have to freeze over first.’

The reasons were mixed for this failure to embrace the web, but mainly it was due to the fact that editors’ feared the web would destroy the newspaper and now The Independent may well have proven a little bit of this story.

On the other hand, was the newspaper doomed anyway? The chances of meeting a journalist who has worked on a newspaper with a circulation rise in the last 30 years is the equivalent of seeing a dinosaur walking along the A50 to Derby.

As I have said previously, by 2006-07, with classified lost to online and households having access to broadband wi-fi, the newspaper business was in crisis.

It was at this point that printing overnight to save costs was the only way forward, which left the door open to the argument that there were now two editions, one for the paper and one online.

The battles between newspaper editors and the digital bods, who had the nerve to ditch their ties, had been won by digital, or so it seemed.

Since 2007 regional newspapers have continued to toy with the web like a playful kitten, many staff not really buying into the culture.

‘Of course we are digital first,’ was the scream heard from the newsroom with a knowing nod and a wink as the best story of the day was held back to sell newspaper in 15 hours time.

Having witnessed the latest Trinity Mirror editorial shake-up taking in the old Local World newspapers, you know the wind of change is just about to sweep through the newly-acquired titles.

Taking a broad brush, TM titles have performed better online than old LW titles, while the LW titles have had better newspaper circulation figures.

But TM’s business is far more digital first. While TM makes encouraging noises about the newspapers, if you picture a large room the newspaper team is over in a darkened corner, waiting patiently for content from the digital team on its 2pm-2am shift…

To put it simply, if I was in charge of a regional newspaper owned by TM I would be ensuring that all my mates suddenly had a role with digital in their title to ensure they were protected…or would I?

If I was an accountant I might be wondering how TM can afford to create this digital empire based on the fact that the cash isn’t really there while the newspapers continue to grind out higher profit.

Back in the digital land of TM, as I understand, you either buy into the ‘revolution’ or you are out on your ear. So all those journos who played lip-service to online, be warned.

There are several aspects to the TM digital model.

Skills are important, but they are not the traditional skills we all associate with being a news journo. This will have a profound effect on those who train journalists, knowledge of court, council or public meeting take a backseat, hello to wizards of social media who understand web analytics or can pull a Storify article together in five minutes.

Then you have to ask about the roles in a newsroom. Effectively, if your story doesn’t get enough uniques, then should it have been written? So, for example, if health or education stories don’t get an audience, why bother doing them?

What about the editor? Does he actually have to edit the newspaper any longer when the focus is clearly on the web? Is the solution is to put someone else in charge and just keep an eye on what’s happening in the cupboard?

If there is no need to have certain specialisms which have been a must in the newsroom of old, what are the roles required? Well, what gets the biggest audience would be the first question I would ask? The answer is football.

This role wouldn’t be just writing match reports, match previews or a story about the odd groin strain, it is far greater than that.

It is all about generating content which leads to debate online, analysing football stats, feeding social media audiences with gossip and tit-bits of information, looking at what content does well and then feeding that with more content.

This is a far cry from a football reporter chatting to the manager over a brew before filing a couple of articles and disappearing off to the pub.

So what does this new newsroom look like? It has experts in a field of content which grabs audiences, forget instinct to pick stories, go for data, move in a data analyst, social media editors and content writers who write stories in advance to pick up the mood of the nation for big events or those special occasions such as Christmas and Valentine’s.

Oh, and if the editor is not keeping a watching brief over the newspaper, you need to have someone in charge of that old-fashioned print publishing. So what you will be asking is this good or bad?

Well, it seems to have worked for TM, its digital audience is good. Is it good for journalism? As ever, there are dangers. As I have said previously, rip up the old news agenda and look again. Never have news organisation had such great intelligence on what the audience likes.

But should content be purely based on what the audience wants? I guess, welcome to the real world of retail, has Tesco knowingly ever sold something that it knows people don’t want?

So why should journalism be immune from the art of good business? When the news editor provides a brief from a parish council meeting just ask them, who is going to read it?

Does this mean that those stories based around holding authority to account are now gone, farewell Fourth Estate? This is very possible.

The Independent has said that it will maintain the standards of its journalism online by ensuring big hitters like Robert Fisk are still employed, but what if he doesn’t get a big enough audience?

Who or what will pay for editorial? If the Guardian can’t make money from online and The Sun and The Mail are struggling, what does the future hold?

Both say that the decline in print revenue is not made up with digital revenue and this is the case for most news organisations.

Based on this, can The Independent survive, is there enough cash coming in to keep journalists employed while turning over a profit?

Back in the old LW domain, if you fancy staying in the mix, think, talk and sleep digital, but keep an eye on the newspaper, after all, the old beast still turns a coin.

 

 

They think it’s all over…should regional newspapers pull the plug on football match reports?

The screams of disgust could be heard across the land as regional newspaper hacks muttered desperately into their frothing pints of real ale.

The source of this despair was the news that Tom Bodell, who works for Newsquest North London, will no longer provide on the whistle Barnet FC match reports or in-game tweets for the Barnet Times website, or match reports in the print edition.

Why we all asked? The reason was simple, not enough web hits. It would have sent the most hardened journo racing to the bar for a top-up.

So are all decisions on stories going to be based on web hits? I have already touched on this issue before. The defunct Local World used to shout loudly by the fact that health stories didn’t get any hits so bin them and deliver more servings of web bait.

Pitch
Regional newspapers have to decide whether they can afford to cover football matches like they have traditionally done so in the past.

The reality is that not all health stories, all council stories or all football stories get big hits. Some health stories fly online, like the threat of scarlet fever or a dodgy doctor.

But the run-of-the-mill health stories often don’t get many hits online, despite the fact that they were often of real importance around staffing or finance.

We already know that Trinity Mirror journalists were threatening strike action over the firm’s ‘Big Brother’ approach to set journalists targets over how many hits they get on their stories.

In a New Year goodwill gesture, TM has now withdraw this idea…for now, although the newspapers which are doing this as a trial will continue to do so and it is certain that it will be back on the table soon.

So where is this all leading? Obviously, part of Newsquest’s decision was based on cost. The reality is that journalism is expensive and is seen as a drain on resources and not one to bring in the money, which is not true.

Selling more newspapers thanks to a big story or getting more hits online are areas where you can argue the journalist helps to bring in the cash.

There are other ways, through business awards run by newspapers which are events cleverly packaged as celebrating greatness, but the reality is that they are a damn good advert for firms involved.

Let me assure you, I’m not knocking this, I’d rather bring in £100,000 for the business to protect jobs than turn my back on this money-making opportunity.

Anyway, back to the web hits. What really annoys journalists is that based on web hits, certain stories may well never be covered again, this could include aspects of holding authority to account, what we often proudly call Fourth Estate journalism.

But there is another argument. Simply, what if the traditional news agenda is wrong? When I was in a senior editorial position I would often question whether the stories put up in conference were the stories which people really wanted to read?

While the web audience is different to that of the newspaper, what the web has shown is that so many of the stories which traditionally appeared in regional newspapers didn’t really get read.

In a bygone era we relied on instinct or newspaper sales spikes (do you remember those?) to form an idea of what our readers wanted.

However, even if we were right about that for a period of time, that news selection passed down through generations of news editors and editors may just be out of step with the rest of the world.

Going deeper into this, the bundling of news into a newspaper is an out-dated concept. As I have said before, it’s all about personal media, not mass media.

So if football match reports fail to grab the audience, do something else. It is clear from the report on Barnet that aspects of the club will be covered, the parts that in many respects the fans are more interested in and will get an audience.

Football fans want so much more than reading about something they have just watched.

A simple match report is all but dead in the water. Football games can be covered live, so why would I want to read a match report hours or even days after?

This is where a football writer now comes into their own. They have to look deeper into the game, look at data, talk to the fans, or a moment in the game and look to expand what happened in that moment which changed the game.

It means football writers have to have a holistic view of the game and look beyond the usual ‘the lads done well quotes’.

What readers are after is the extraordinary, the piece of data or insight which will make them stop and say ‘gee-whizz’.

How many football writers really know everything about the club they report on? Do they understand the finances, the work of the physio, the nutritionist, the groundsman, when was the last time they spoke to a ref?

And remember, in the future all football clubs will provide their own match reports. We are moving faster and faster to the situation that exists in the States where American football clubs provide all the reports and interviews directly to the media without an independent journalist anywhere to be seen.

There is a massive movement towards professionalising media output right across the football world, most clubs will be asking, why do we need to even talk to journalists outside the inner sanctum of the club?

Back to the demand for web hits. It won’t go away, particularly as some senior staff get a bonus based on performance, a case of forget about the quality, go for the numbers, Primark economics.

This goes hand in hand with the demand to make more cash online despite the fact that print still is king on the money front. The solution, casually transfer funds from one to the other, which makes print look like its cash income is declining more rapidly and the web is booming.

It’s a slight of hand. Lies, damn lies and statistics, but if it keeps my former colleagues and friends employed, I can live with it.

If there’s any budding football journos out there who want to get some experience in reporting, I’d bang on the door of Barnet FC.

Why greed is helping to ruin the regional newspaper industry, as Newsquest cuts staff at the Bolton News

It is devastating. I understand how all those at Newsquest’s Bolton News who face losing their jobs feel, a quarter of the editorial force in that organisation, 10 in total are to go.

They will join a long procession of journalists who have lost their jobs during a bitter decade of decline, many of them great journalists and more than a handful I’m proud to call my friends.

A quarter of the workforce are to be cut in the editorial department of the Bolton News by Newsquest.

A quarter of the workforce is to be cut in the editorial department of the Bolton News by Newsquest.

The first word that came to my mind was greed. I searched for a quote to match my mood and came up with this: “One of the weaknesses of our age is our apparent inability to distinguish our needs from our greeds.”- Don Robinson.

The issue for newspapers is that they have always tried to squeeze the money out of the businesses. I’ve not become a socialist over night (just for the record),  I understand the need to turn a coin.

But it makes business sense not to be too greedy. Here lies the problem. I’m not sure my accountant friends will agree, but newspaper profit margins have always been too high.

Johnston Press used to boast profit margins of 35 per cent and the rest of the industry licked its lips and look with envy at what they had achieved.

When I joined the defunct Northcliffe Newspapers in the early 1990s, the company didn’t have such high profit margins, but they were still heading towards 20 per cent.

The reason is that the company didn’t have to bust a gut to reach 35 per cent was that it was making towards £100m and Lord Rothermere was more than happy, describing the regional newspaper arm as his ‘jewel in the crown’.

Then the collapse in income and the bottom fell out of the industry. Northcliffe, which had posted £96m profits saw them plunge to just £17m and panic set in.

This panic effectively saw the slash and burn team move in and clear out large chunks of the newsroom…and to be fair any other department which could be cut.

While the business started to adapt and modernise, fewer staff, no editions, online first, rather than reassess the need to make smaller profit margins to fit in line with a new business model, companies decided they needed bigger profit margins.

Certainly, where I was last based, they were targeting 27 per cent, certainly higher than in the glory days of larger profits. So with revenues down in news print, online failing to make up the shortfall, targets were set higher.

The point about profit margins is that most companies would be happy to make between 10 and 15 per cent (this is being generous), so you can see how newspapers have been pushing the boundaries…or being greedy.

Gracia Martore, chief financial officer at the Newsquest’s US parent, Gannett, said recently: “Let me once and for all dispel the myth that Newsquest doesn’t make money. Newsquest makes a lot of money.

“In fact, their margin, as I have said a couple of times, is consistent with the margin that our local US community publishing operations generate.

“So their margins are in the high teens to low 20s. And they have consistently made money throughout the years, even in a year like last year when revenues were under as much pressure as they were.”

So here we have it. Straight from the horse’s mouth, Newsquest is doing very well, thank you…

The issue is that the company, like other newspaper businesses are squeezing the life out of the organisations. The more staff you cut, the worse the product inevitably becomes.

Without doubt the newspaper business needed an overhaul. In some areas there were too many people doing the work. However, there is a time when staff cuts are so deep that the product suffers. This can be seen everywhere now.

If these firms were serious about keeping going, they would perhaps decide to reduce the profit margins slightly and maintain the existing workforce to protect the product.

However, by cutting staff the decline of the business becomes a self-fulfilling prophecy. Fewer staff, a poorer product, sales decline further, less income, then cut staff again, the circle of despair is complete.

I know the shareholders would moan desperately about their dividends being reduced if profit margins fell, but they will not get a penny if the business folds.

Surely, it’s worth a gamble to cut the margins, protect the staff and even look to invest in new products such as apps to ensure the longevity of the business? Unfortunately, the words horses and bolted come to mind.

Will it be slash and burn as Trinity Mirror looks to gobble up Local World for £200m?

Is there anything to fear from Trinity Mirror gobbling up Local World? TM already owns around 20 per cent of LW so surely it’s just one big family hug which will only cost £200m?

I only wish this was the case. From statements coming out of TM it is clear the marriage is not one which will be full of joy.

Trinity Mirror is looking to buy Local World in a £200m deal.

Trinity Mirror is looking to buy-out Local World in a £200m deal.

TM managers are already talking about, and I quote, there will “probably be staff savings and scale advantages in print plus some office savings.”

Why they have used the word probably, goodness knows, of course there are savings, from all the backroom HR work to those over-stretched advertising departments. Slash and burn, no-one will be safe in this rationalisation, not even those in the dark corners of the accounting departments.

As for the poor journalists, it will leave the door opening for content sharing with the inevitable consequence of slicing more journalists out of the newsroom.

Those in the firing line will be editors (who needs three when the job can be done by one…?!), the content editors (production), subs to you older folk (what’s the point in headlines and checking) and photographic departments (everyone can take a picture now, really?).

Are there any good points to this takeover which will mean the merger of 240 TM papers and 100 from LW plus all the web sites? The group would certainly have massive power in the commercial market with a huge audience both in print and online.

It is also obvious that these sort of deals have to be cut to keep the regional newspaper business rolling as it loses its newspaper readers.

Selling across all the titles would also look a good proposition to advertisers, it is only when the amount paid for the advert is split across all titles the top line starts to look slightly thin to the local centres in the scramble to survive.

In TM’s statement they acknowledge there is a risk of the deal being blocked by regulators, but described the regulatory environment as “a lot more favourable than it was several years ago.”

TM is spot on with this. When Northcliffe Media and Illfe News & Media joined forces I was surprised how the mergers and monopolies crew turned a blind eye to parts of the deal.

Take Staffordshire. It was obvious that joining Northcliffe’s Stoke Sentinel and the Tamworth Herald group of newspapers together with Iliffe’s Leek Post&Times and the Staffordshire Newsletter gave the new LW a massive footprint in the area.

For many communities in Staffordshire, they have little or no choice of any other media. However, it was waved through without a bat of an eyelid. So TM will have few fears in that department.

Then you look at the price. Paying £200m for a newspaper business in this day and age is risky. TM made £102m in 2014 and then put aside £12m of this to handle civil complaints in the wake of the phone-hacking scandal.

The TM profit was in part due to, yes you’ve guessed it, to cost-cutting.

LW’s profits also don’t look great, the reality is that after taking off all the cash owed to shareholders the most recent profit was just £11m.

The outcome of the buy-out will be a Manchester United lead from TM’s MEN appearing in the Stoke Sentinel or Hull Daily Mail as the stricken editorial teams look to fill those holes in their newspaper.

So much for local journalism.