The acquisition of the Express and Star titles from Northern & Shell earlier this year may have boosted reported revenues at Reach (RCH) by a fifth in the third quarter of 2018, but underlying numbers remain woeful. The re-named publisher of the Mirror and various regional titles reported a 7 per cent decline in like-for-like revenues as circulation and advertising sales fell 4 per cent and 20 per cent respectively.
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Reach is in the process of pooling editorial staff and resources across its eight national newspapers which means 70 job cuts are expected before the end of the year. Chief executive Simon Fox expects £2m of savings in 2018 from the integration.
