Howell has been winding down his multifarious commitments in the expectation that a deal will go through. Trinity Mirror, now headed by former HMV boss Simon Fox, may keep a stake in the paper. The ambitious plan, essentially to replace the defunct News of the World in the nation’s affections (if such they are) would obviously benefit from a friendly older brother to help with printing and distribution costs for a standalone Sunday newspaper.
Douglas, a former editor of the Sunday Express, will be editor of the paper.
Douglas and Howell apparently think that the closure of the News of the World at the height of the phone hacking scandal has left a potentially profitable hole in the market. It has certainly left a lot of former NoW staff looking for a job.
It’s a brave, possibly foolhardy move by Douglas and Howell to invest in such a property at a time when other publishers, including News International with both the Sun and a possible combination of The Times and Sunday Times are pursuing seven-day publishing.