Trinity Mirror the owners of the Daily Mirror and People and the Western Mail, Daily Post, Wales on Sunday, South Wales Echo and a host of weekly newspaper titles here in Wales, have parted company with their Chief Executive Sly Bailey after a row over her pay and the companies performance, but she's not the only chief Executive on the way out following today’s announcement that Aviva the UK’s largest insurance company is parting company its chief executive over pay and performance as well.
But i digress, the Welsh media is in a pitiful state and needs all the help it can, so sorting out the short and medium term future of Media Wales even if its papers are Labour supporting and mostly unquestioning positive changes need to happen as soon as possible. Sly Bailey’s strip them bare and squeeze every penny out of them approach to newspapers meaning a loss of staff and a drop in quality and coverage has been felt all the more keenly in Wales because of its dominance of the market.
However there could be a ray hope with a new boss at Trinity Mirror as discussed in the Guardian today
‘There seems little doubt that Trinity Mirror needs two strategies. The company has to confront more explicitly the challenges for regional newspapers, although despite everything regional papers enjoy double-digit profit margins. Even so, a dramatic solution is needed: perhaps a shotgun spinoff and merger between Trinity Mirror's regionals and, say, the titles owned by DMGT – and, given the industry pressures, regulators need to take a benign view.
Who knows if it will make any significant difference but it’s an opportunity that should be explored at the very least for the sake of a healthier democracy and political accountability in Cardiff Bay and in the light of last week's Council elections.
Any source
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