Trinity Mirror is to cut 550 jobs and sell its Northern Ireland newspaper titles, which include the Belfast News, Derry Journal,and the Donegal Democrat.
Britain's largest regional newspaper publisher today reported a 2.6 per cent rise in first-half profit, boosted by cost cuts.
The company last year sold the Sunday Business Postto Thomas Crosbie Holdings for €10 million.
The company, whose papers include the flagship Daily Mirrorand the Birmingham Post, said its profit for the six months to June 30th came in at £80.4 million sterling, compared with £78.4 million a year earlier.
Turnover in the group fell 1.4 per cent to £551.6 million.
Mr Sly Bailey, group chief executive, announcing the results of a six-month strategic review of the company, said Trinity Mirror would dispose of its Northern Ireland newspaper division.