This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.guardian.co.uk/media/2013/may/10/sunday-people-bid-phoenix-ventures
The article has changed 5 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Sunday People bid shelved by Phoenix Ventures | Sunday People bid shelved by Phoenix Ventures |
| (about 2 hours later) | |
| A consortium fronted by Sue Douglas, the former Sunday Express editor, is understood to have shelved a £10m bid to take a majority stake in the Sunday People. | A consortium fronted by Sue Douglas, the former Sunday Express editor, is understood to have shelved a £10m bid to take a majority stake in the Sunday People. |
| Talks with Sunday People publisher Trinity Mirror over a deal have been ongoing since late last year. | Talks with Sunday People publisher Trinity Mirror over a deal have been ongoing since late last year. |
| It is understood Trinity Mirror, which is run by former HMV chief executive Simon Fox, and Douglas's company Phoenix Ventures have now decided not to continue talks regarding a takeover of the Sunday People. | It is understood Trinity Mirror, which is run by former HMV chief executive Simon Fox, and Douglas's company Phoenix Ventures have now decided not to continue talks regarding a takeover of the Sunday People. |
| However, it is thought the two parties are continuing discussions concerning other editorial projects, including a digital-only product. | |
| Trinity Mirror and Phoenix Ventures declined to comment. | Trinity Mirror and Phoenix Ventures declined to comment. |
| Douglas, who has teamed up with ex-ITV executive Rupert Howell, has been trying to raise as much as £10m in funding and had developed mock ups of a new-look tabloid that may have been called News of the People or News on Sunday. | Douglas, who has teamed up with ex-ITV executive Rupert Howell, has been trying to raise as much as £10m in funding and had developed mock ups of a new-look tabloid that may have been called News of the People or News on Sunday. |
| Phoenix Ventures, the parent of Phoenix Newspapers Limited, has been looking to strike a deal to take control of a Sunday paper since Rupert Murdoch closed the News of the World in 2011. | Phoenix Ventures, the parent of Phoenix Newspapers Limited, has been looking to strike a deal to take control of a Sunday paper since Rupert Murdoch closed the News of the World in 2011. |
| Their move was founded on the belief that there is an opportunity for a digitally-led daily title with a weekend print edition to hoover up the 1.3 million-plus readers who did not gravitate to a rival title after the Sunday tabloid's closure. | Their move was founded on the belief that there is an opportunity for a digitally-led daily title with a weekend print edition to hoover up the 1.3 million-plus readers who did not gravitate to a rival title after the Sunday tabloid's closure. |
| Phoenix executives have also held arms-length talks about a potential deal for Richard Desmond's Daily Star Sunday. | Phoenix executives have also held arms-length talks about a potential deal for Richard Desmond's Daily Star Sunday. |
| The Independent on Sunday may also have been considered, although it is not clear if any approach or talks were initiated with owner Alexander Lebedev or his son, Evgeny, who runs the Russian businessman's UK media operation. | The Independent on Sunday may also have been considered, although it is not clear if any approach or talks were initiated with owner Alexander Lebedev or his son, Evgeny, who runs the Russian businessman's UK media operation. |
| • To contact the MediaGuardian news desk email media@guardian.co.uk or phone 020 3353 3857. For all other inquiries please call the main Guardian switchboard on 020 3353 2000. If you are writing a comment for publication, please mark clearly "for publication". | • To contact the MediaGuardian news desk email media@guardian.co.uk or phone 020 3353 3857. For all other inquiries please call the main Guardian switchboard on 020 3353 2000. If you are writing a comment for publication, please mark clearly "for publication". |
| • To get the latest media news to your desktop or mobile, follow MediaGuardian on Twitter and Facebook. | • To get the latest media news to your desktop or mobile, follow MediaGuardian on Twitter and Facebook. |