Were sacked Mirror editors plotting a takeover?

Sacked Mirror editors Richard Wallace (Daily) and Tina Weaver (Sunday) were plotting a buyout of their employer Trinity Mirror’s national titles before they were unceremoniously given the boot on Wednesday, according to the Telegraph’s media editor Katherine Rushton.

It’s not clear from Rushton’s story, which was rubbished this morning by former Mirror editor Roy Greenslade on the BBC, whether she thinks the plotting was the real reason for their departure or they were fired, as the company claims, as part of a move to seven day publishing.

Rushton says that the pair were (are?) being backed by a very rich individual. You’d have to be to get involved with British national newspapers just at the moment although a case can be made that the Mirror’s national titles – the Daily Mirror, Sunday Mirror, People and maybe the Daily Record in Scotland – would do better without the impediment of TM’s string of struggling regional papers. These were supposed to be the cash cow to support the national titles when Trinity Mirror came together, but times change.

Well it’s an interesting notion and might prove attractive to long-suffering Mirror shareholders who have already ousted CEO Sly Bailey. Bailey’s still there, working out her notice, and is believed to have played a leading role in terminating the two editors, along with new chairman David Grigson.

Grigson is a money man (albeit from a media background at Emap and Reuters) so shareholders can presumably look to him to get the best deal possible for them, even if that means abruptly terminating his own reign at the publisher.

Wallace and Weaver will no doubt surface somewhere in the media over the next few days. It’ll be interesting to hear what they have to say.

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About Stephen Foster

Stephen is a former editor of Marketing Week and London Evening Standard advertising columnist. He wrote City Republic for Brand Republic and is a partner in communications consultancy The Editorial Partnership.