Trinity Mirror has announced it is to hive off the Racing Post and over 100 regional titles in the Midlands and the South-east.
Trinity says it will concentrate on its national titles, The Daily Mirror, Sunday Mirror and the People and the Daily Record and Sunday Mail in Scotland. "Our national titles, with industry leading margins, generate strong, sustainable and robust cash flows which underpin the financial strength of the group to enable it to invest in and grow the business."
Trinity is to retain titles in Scotland, the north of England and Wales, such as the Liverpool Echo, as they are strong in their markets. Titles in the South-east to go include the South London Press and the Croydon Advertiser.
As part of a strategic review led by chief executive Sly Bailey, the national newspaper group had considered a demerger but says it will adopt a new technology-led business model in a bid to achieve growth and reduce costs, saving £20m a year by 2008.
Bailey said: "The proposed disposals will enable us to concentrate on the heart of the group and adopt a new, technology-led operating model that will ensure we serve our advertisers and readers better from a significantly lower cost base. The new integrated model will allow Trinity Mirror plc to develop as a multi-platform media business and capitalise on the enormous strengths we have in our core markets. Now this review has been completed we can move forward swiftly and turn our vision into a reality."