Desmond targets tabloid rivals with half-price Daily Star

LONDON - Richard Desmond is to halve the cover price of the Daily Star this summer to 10p according to reports, as he looks to ramp up his battle against the Daily Mirror and The Sun.

Daily Star: cover price reportedly set to be halved
Daily Star: cover price reportedly set to be halved

Desmond, who also owns the Daily Express and OK! magazine, has been discounting the tabloid to 20p in certain parts of the country since November 2008.

Now he is to put further pressure on tabloid rivals, by cutting the cover price to just 10p from 1 July. 

The Daily Mirror sells at 45p a copy and Trinity Mirror chief executive Sly Bailey has long railed against competitors that have slashed their cover price to lure readers.

The Sun is price-discounting to 20p from 30p in certain parts of the UK, including London, Birmingham and Oxford.

The Daily Star's price-cutting has benefited its circulation and the title has been – in terms of circulation – one of the few success stories in the newspaper industry.

According to the latest audited figures, circulation of the Daily Star rose on the year by 0.87% to 827,005 in March. The Sun sells around three million copies a day, while the Daily Mirror sells about 1.25 million. 

Desmond believes he can overtake the Daily Mirror's circulation by price discounting.

Desmond, who has set aside £5m to cover the cost of cutting the Star's cover price, will be sacrificing hundreds of thousands of pounds in revenue.

In an interview in The Sunday Times, he said: "I want to really go for it now. We are a private company and we have loads of dough."

In the interview, he also commented on his reported interest in making a bid for ITV, saying: "I am not gong to get involved in something where I can't turn it around quickly."

When asked who he is supporting in the General Election, Desmond said he and the Express are backing the Conservatives. He said: "If they don't get in, we are fucked, fucked, fucked."

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

Watch the first YouTube clip, nine years on

Watch the first YouTube clip, nine years on

This week marks the ninth anniversary of the first clip uploaded on YouTube, a 19-second video of YouTube co-founder Jawed Karim at the San Diego Zoo.

Share
Yahoo hosts exclusive X-Men: Days of Future Past films

Yahoo hosts exclusive X-Men: Days of Future Past films

Yahoo has partnered with film distributor Twentieth Century Fox to create a global content hub on its Yahoo Movies platform for new release 'X-Men: Days of Future Past'.

Share
My Media Week: Stuart Taylor

My Media Week: Stuart Taylor

This week, Stuart Taylor, chief executive, Kinetic UK, is inspired by the new tech coming to market and how wearables and smart cities will impact on OOH.

Share

Get news by email