On Friday, Daily Mirror owner Trinity Mirror said it was putting the newspaper's price back up to 32p in parts of the country following pressure from shareholders. The Daily Mirror cut its price to 20p last month in a hope of attracting new readers to its new look paper.
The return to its full price was seen largely as a climbdown by the Mirror after rival tabloid The Sun matched its price cut and blunted the Mirror's move.
The Daily Mirror is understood to have failed to anticipate The Sun's move, and instead of attracting the 400,000 new readers Morgan believed his paper would gain, it attracted just 140,000 new readers.
The Mirror's decision to enter into a price battle was seen as a poor decision by the industry largely because in a fight with The Sun's deep pocketed News Corp owners it was a fight that the Mirror was always going to lose.
The war is understood to have cost Trinity Mirror £12m, on top of the £20m the recent relaunch of the Mirror and supporting ad campaign has cost it.
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