Desmond to sell porn titles for respectability

by Claire Billings,, Brand Republic 11-Jan-01, 09:00

LONDON - Richard Desmond, proprietor of Express Newspapers and OK! magazine, is to sell his stable of soft-porn magazines, heading off criticism that he is not a suitable owner of a national newspaper.The move will be seen as an attempt to prove that he is serious about long-term ownership of the Daily Express and Sunday Express. Recent speculation has indicated that he might sell the Express titles and concentrate on red-top tabloid, the Daily Star, which was seen as a good fit with OK! and his stable of adult titles.

Desmond’s company, Northern & Shell, will sell 35 adult magazines including Asian Babes and Reader’s Wives. Desmond is believed to be hoping to raise between £10m and £20m from the sale, which is being handled by investment bank Seymour Pierce.

Northern & Shell said it planned to sell the titles before it bought Express Newspapers in November. It is thought that the company is trying to clean up its image ahead of a possible flotation.

Northern & Shell, however, will retain its adult cable and digital station, the Fantasy Channel. It also publishes gay lifestyle magazine Attitude and some music, keep-fit and cooking magazines.

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