Lord Rothermere, the chairman of Daily Mail & General Trust, has sold £540,000 worth of shares in the group.
DMGT, owner of newspapers including the Daily Mail, the Mail on Sunday and about 100 regional titles, made a statement to the London Stock Exchange yesterday regarding the disposal of shares by Rothermere.
Rothermere sold 235,295 shares in the group, which last month completed the sale of 75.1% of the London Evening Standard to Russian billionaire Alexander Lebedev, at a price of £2.29p per share. The transaction netted Rothermere £540,781.
According to the stock exchange filing Rothermere personally holds almost 76m DMGT shares, or 21.05% of the company's stock.
Last week, DMGT revealed it had doubled the number of jobs cut at its regional newspaper operation Northcliffe Media, to about 1,000, and that advertising revenue for the first quarter of this year fell by 24% across its national newspaper division and 37% across its regional titles.
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