Daily Mail agrees sale of local paper arm

The owner of the Daily Mail today agreed the sale of its local newspaper arm in a deal that will create a new force in regional publishing with more than 100 titles.

Daily Mail and General Trust is selling its Northcliffe Media arm for £52.5m (€65.2m) to a new joint venture, called Local World, which will also combine the regional newspaper assets of Iliffe News & Media, which owns the Cambridge News.