News of the sell-off follows reports last week that Trinity's second national Sunday newspaper after the Sunday Mirror, The People, was for sale with a potential price tag of £50m. Although these reports were quickly denied, it is still thought that The People is for sale, but that its sell-off is only one part of larger plan to turn the fortunes of Trinity around.
The plan being talked of would still call for The People to be sold off, leaving the management buyout team to take control of the two Mirror titles, along with the Daily Record and Sunday Mail in Scotland.
The plan is thought to have emerged following a review of the company's business by management consultants McKinsey & Co. It is believed to have concluded that there is no successful way forward for the newspaper group in its current form.
Trinity, since it was formed in 1999 with the merger of Trinity Newspapers and Mirror Group, has never been as successful as many had hoped. The fusion of Mirror Group's national, and some regional titles, with Trinity's all-regional papers never took. A break-up is now being seen as the best way forward.
It is thought that a buyout would lead to a streamlined Mirror Group, with the daily and Sunday paper being merged into a seven-day operation with a similar move in Scotland as well.
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