Simon Fox 'unlikely' to take Daily Mirror down price-war route

The Daily Mirror is "unlikely" to be drawn into a price war with The Sun and the Daily Star, says Simon Fox, its new chief executive.

Simon Fox: chief executive of Trinity Mirror
Simon Fox: chief executive of Trinity Mirror

Fox said "it was highly unlikely that we would go down that route" when questioned whether the Daily Mirror would aggressively price-promote as its red-top rivals have done.

Rival tabloid titles, the Daily Star and The Sun have this year been price-promoting their titles in an effort to lure in readers.

The Sun, priced at 40p, has been discounting to 30p in London, although it is now back to 40p. Likewise, the Daily Star has been price-promoting from 35p to 30p.

The Daily Mirror, however, has always maintained its 45p cover price, with former chief executive Sly Bailey arguing that cover price-promoting doesn’t lure in permanent readers.

Fox, who replaced Bailey when he joined as chief executive of Trinity Mirror in September, is likely to continue this strategy.

The Daily Mirror had an average daily circulation of 1.1 million, The Sun had 2.4 million and the Daily Star 568,000 in September, according to audited figures.

Fox told Media Week that "it is important we price correctly". Trinity Mirror has been price-promoting one of its regional titles in Paisley, Scotland

Last week, Trinity Mirror upgraded its full-year profit forecast, on the back of an improved advertising outlook on its national tiles, including the Daily Mirror. It said full-year adjusted profits would match 2011 at £104.5m.

The publisher has recently introduced a new management structure under Fox.

Commenting on the new structure, Fox said: "The main change has been made. We are now working to fully implement our incredible portfolio of brands.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

ASA South Africa drops investigation into "racist" charity ad

ASA South Africa drops investigation into "racist" charity ad

South Africa's Advertising Standards Authority has dropped an investigation into a controversial charity ad that showed a white woman feeding scraps to a black child, after the organisation withdrew the spot and apologised.

Share
Heineken unveils ‘Open Your City’ drive with Metro for ‘men of the world’

Heineken unveils ‘Open Your City’ drive with Metro for ‘men of the world’

Heineken is launching a marketing campaign, 'Open Your City', kicking off with a six-month partnership with Metro entitled 'London Unlocked'

Share
Vevo renews advertising and content deal with Toyota

Vevo renews advertising and content deal with Toyota

Vevo, the music video and entertainment platform, believes it is continuing to take media spend away from traditional broadcasters following a new seven-figure branded content and sponsorship deal with Toyota AYGO.

Share

Get news by email