Trinity mirror became the latest company to blame the so-called “beast from the East” for poor trading as it showed a 9pc drop in revenues for the first four months of the year.
Mirror Publisher said during a print advertising sales in March and April, which was offset by the hot weather, which led to a drop in sales of Newspapers.
The company, which also publishes Scotland’s daily record and regional titles including the Manchester, saw print advertising revenue fall 17pc in four months, but said the drop was less severe for 15pcs in the second half of the period amid “improving the effectiveness of national advertising.”
It underwent a severe decline in advertising revenue, falling from 18.2 PC via last year up to 7pcs. Barclays analysts noted that the decline may be the result of Facebook decisions to move more posts from friends rather than those of media on its users news, but added: “it’s even slower than we expected”.
Figures exclude Finance competing titles, including the Daily Express and daily star, which Trinity mirror bought from media Mogul Richard Desmond £127м the Internet earlier this year.
New assets saw a 5pc fall as sales, with 40 PCs sales surge is unable to offset the decline 8pcs in print.
Trinity mirror was forced to keep the two parts of the business are formally separated now, after the competition and markets authority and media regulator ofcom decided to investigate the merger on the orders of culture Minister Matt Hancock.
On Tuesday, Mr. Hancock said that he stepped in to ensure the merger did not harm the freedom of expression or reduce pluralism in Britain.
Analysts at Barclays said: “it’s not like us, given the strength of Facebook and Google and a number of other news sources that the CMA or Ofcom did find this combination to be problematic. But until these studies are completed, they remain a risk factor in history”.
Simon Fox, Executive Director, said: “I am satisfied with the actions we take to protect the profitability of print, continuing to build our digital company.”