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April 6 Daily Mail & General Trust
(DMGT) said on Thursday it has appointed Tim Collier as group
chief financial officer, filling the post vacated by Stephen
Daintith, who left the group to join Rolls-Royce.
Collier, who joins from news and information company Thomson
Reuters Corp , takes up his new post on May 2,
the publisher said.
Collier held the post of CFO at Thomson Reuters' Financial
and Risk unit, the company said.
Collier joins the group at a time when it needs to extract
more revenue from online as advertising sales from the Daily
Mail newspaper shrink fast.
However, its celebrity-focused websites, DailyMail.com and
MailOnline, are among the most popular in the English language.
Last year, it named Paul Zwillenberg, a digital media
specialist, as its chief executive, bringing in an outsider to
try and drive up revenues from its popular websites.
To slim down its sprawling range of businesses, the company
has reduced its stake in Euromoney, a separate business
information company, from around 67 percent to around 49
In January DMGT cut its revenue forecast for its data and
analysis business which serves the property, education and
energy sectors, to mid single-digit growth from a previous
forecast of high single-digit growth, as business in the first
quarter was adversely affected by reduced levels of activity in
the UK property market.
Shares in the company were down 0.9 percent at 705.50 pence
by 0826 GMT, when the Stoxx Europe 600 media sector index
was down 1.4 percent.
(Reporting by Rahul B in Bengaluru; Editing by Greg Mahlich)