Tory donor Lord Ashcroft takes stake in troubled Mirror publisher

James WarringtonTue, September 29, 2026 at 2:04 PM UTC

0

Lord Ashcroft has paid £4.4m for a stake in Reach - Geoff Pugh

Billionaire Tory donor Lord Ashcroft has taken a stake in the struggling publisher behind the Mirror and Express newspapers.

The British businessman has taken a 3pc stake in Reach, worth around £4.4m, through his investment vehicle Heather Venture Holdings.

Alex deGroote, a media analyst, said Lord Ashcroft, the former deputy chairman of the Conservative Party, may attempt to seek influence over Reach’s strategy.

But he also described the investment as “shrewd” bargain hunting after a slump in the publisher’s share price to just 47p.

The company now has a market value of less than £150m – a fraction of its £5bn peak in 2005.

The move will add to Lord Ashcroft’s existing media holdings, which include news brands such as Politics Home and Conservative Home, as well as Biteback Publishing.

The 80-year-old life peer, who has written for the Daily Express, is also the majority shareholder in Gusbourne, the English sparkling wine producer, and has a major stake in data science company Jaywing.

Lord Ashcroft’s swoop comes at a torrid time for Reach, which also owns scores of local titles including the Manchester Evening News and Liverpool Echo.

Advertisement

The publisher unveiled plans this month to cut a further 220 journalists as it grapples with a sharp downturn in reader numbers. It also said it will shutter three of its online news outlets in Kent, Aberdeen and Galway.

Reach also axed more than 300 editorial roles in a cost-cutting round last year.

Reach has been paying the price for its strategy of chasing clicks as digital advertising revenues have shrunk and the rise of AI summaries has diverted readers away from news sites.

In July, the company said its Google referrals had plunged by 55pc in the first half of the year, triggering a 9pc fall in revenues. Reach reported a pre-tax loss of £45m.

Piers North, chief executive of Reach, has since pledged to reverse the newspaper group’s paywall-free strategy and focus instead on generating subscription revenues directly from readers.

Reach has around 40,000 paid subscribers and bosses have pointed to “active engaged time” as the most important metric, rather than page views.

The London-listed company is currently searching for a new chairman as incumbent Nick Prettejohn prepares to step down ahead of next year’s annual general meeting.

This month it appointed Clive Whiley, chairman of Scottish broadcaster STV, to its board. Mr Whiley, who was previously chairman of banknote printer De La Rue, is considered a frontrunner to take up the role.

Reach declined to comment. Lord Ashcroft has been contacted for comment.

Original Article on Source

Source: “AOL Money”