Daily Express owner and former porn baron Richard Desmond mulling sale of tabloids and other publications to rival Trinity Mirror
Trinity Mirror shares rose in early trading after it emerged it was in talks with media mogul Richard Desmond to buy a stake in his four UK tabloids and other key publications.
Shares rose 2.8 per cent to 100.23p after it confirmed it was in talks with Desmond's Northern and Shell Media Group to buy a minority interest in the Daily Express, Sunday Express, Daily Star and Daily Star Sunday.
Yesterday Sky reported the sale could include the purchase of OK! and other magazines owned by Northern and Shell.
Read more: From porn to property: Here's Richard Desmond's new venture
In a statement to the stock market, Trinity Mirror insisted the talks were at an "early stage".
"No offer has been made and there is no certainty that any agreement will be reached," it said.
If the sale is successful, it will force Desmond to take a step back from British newspaper publishing. He was previously known for publishing pornographic magazines, but bought into the newspaper world in 2000 when he snapped up the Express group for £125m.
Read more: Trinity Mirror defends buyback amid pension shortfall criticism