October 23rd, 2012

Mirror Shares Crash Over Piers Hacking Claims

Trinity Mirror’s share price has crashed 12.5% this morning. It closed at 72p yesterday, opening at 65p when it was revealed overnight that the Mirror‘s publishers faced legal action over phone-hacking allegations, dropping again to 62p as the morning went on. £18 million was wiped from the value of the company. And there is more to come…

UPDATE: Trinity Mirror has a market capitalisation of £163 million, the group already has a pension fund deficit estimated to be £159.5 million, almost equal to the struggling media firm’s market capitalisation. Given News International has paid out some £200 million in hacking legal costs already the actual solvency of the firm could be in danger if claims mount up. Murdoch could afford to take the hit, Morgan’s old mates can’t…


71 Comments

  1. 1
    Selohesra says:

    Any comment from Twatson yet?

    Like

  2. 2
    Fabians are Evil says:

    Rejoice!

    Like

  3. 3
    Santa Claus says:

    Blimey my time has come early this year

    Like

  4. 4
    Peter Grimes says:

    Can’t wait for more revelations. Piss Moron is in deep shit, I hope!

    Like

    • 14
      Aaron D Highside says:

      Roll on the Toilets revelations!

      Like

      • 37
        Henry Crun says:

        With ay luck Maguire will be reduced to living in one

        Like

        • 48
          Pundit too too says:

          It has certainly taken a long time for this to happen.
          Interesting that the BBC, mired in its own corrupt practices, did not defend their ally in the Labour supporting Mirror group.
          They, as well as we, knew that this would come as we all believe that Morgan and the Mirror was more into phone hacking than even the NOTW.
          Dilemma for the Beeb is to promote a negative story of a political ally to take the heat off themselves. The BBC senior management and editors must be all praying for an anti-Conservative story.

          Like

        • 63
          Snowy Whitish says:

          Mirror mirror on the wall
          Who’s the skintest of them all?

          Like

  5. 6
    HORACE DALRYMPLE says:

    Piers Morgan a person who definetly has the eX factor !

    Like

  6. 7
    fuck the bbc says:

    Pulls up chair – BBC and Moron in the dock…. luuvverly …. Salem for the 21st century – these twats reaping the whirlwind they sowed :)

    Like

  7. 8

    Piers Morgan may need to return to the UK to give evidence. A spokesperson from CNN could barely suppress their relief.

    Like

    • 31
      Rupe, Corrupto Supremo says:

      “CNN could barely suppress their relief.”

      …and shares in that company breathed a sigh of relief that Piers has been found out at last to be the ultimate “empty vessel”

      Good job he found that daft (but rich) tory wife to stick by him.

      Like

  8. 9
    smoggie says:

    Sven had it coming. Frequently.

    Like

  9. 13
    2 Para says:

    Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha
    Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ………………………………………………
    ………you would need a heart of stone not to laugh your bollocks off.

    Like

  10. 15
    junkkmale says:

    This will be popcornworthy, as various sanctimonious ‘we hold others to accounters’ currently throwing each other to the wolves weigh up which diversionary strategy will best serve.

    Savile still pretty much top of news, so the BBC has a tantalising Levenson inquiry bit of chump to throw in to move the internal cannibalism elsewhere, though still ‘family’. And while the focus was easy to shine last time… not so much this with nibbles on other fronts needing defending.

    Mob rules I guess. It’s only business.

    Like

  11. 17
    keredybretsa says:

    Buy at 50p!!

    Like

  12. 18
    Pencil Squeezer says:

    Tom Watson cannot comment as his sleep has been disturbed by a large custard domed blackhead on his back

    Like

  13. 19
    Chris The Leatherman says:

    I hope Trinity Group ask Piers Morgan to pay for their drop in share value. Enormous fun to see him the dock, he should have done time over the false pictures of British soldiers ‘torturing’ Iraquis and for insider dealing.

    Like

  14. 20
    Centre Parting says:

    Mirror – toast, Morgan – melba toast.

    Like

    • 54
      BBC, Guardian, Mirror, NHS, FSA et al says:

      Mirror, mirror on the wall, who is the most corrupt of us all?
      No lack of unwilling suspects heh.

      Just come out that Entwhistle tried to make Rippon the scapegoat – does he not realise how stupid this could prove?

      Like

  15. 21
    Tax is theft says:

    Time to get the cross hairs out Guido! :)

    Has anybody heard Messrs Watson and Bryant on the airwaves yet?
    Will the left demand an enquiry as to whether Trinity Mirror is fit and proper?
    Will the BBC be so rabid this time round?

    I doubt it, I doubt it very much.

    Like

  16. 23
    Andy Capp says:

    Flo, open a bottle of stout. Someone’s ‘avin’ a go at Piers at last

    Like

  17. 24
    Rupe, Corrupto Supremo says:

    Time to see him down on all fours with Slippery Sly sticking a feather duster up his bum.

    Except of course for Piers that will be a pleasure instead of punishment!

    Like

  18. 25
    john hill. says:

    smarmy tw*t. hope he drowns in his own grease.

    Like

  19. 26
    Centre Parting says:

    How many BBC journalists are going through the situations vacant in the Guardian this morning?

    Like

    • 38
      Centre Parting says:

      Mirror journalists as well.
      Get new lawyers whilst they are at it – current ones not up to much if they get f**ked over by Frankie Boyle.

      Like

  20. 27
    I don't need no doctor says:

    Where are the voices of Watson, Bryant, Coogan, Grant et al. No money in it for them? Hypocrisy because the Mirror is a labour rag.
    Watson you really are scum.

    Like

  21. 28
    UKIP.I.AM says:

    BBC…Mirror…. come on Guardian let’s go for the hat-trick of evil.

    Like

  22. 29
    I don't need no doctor says:

    Labour, one nation hypocrites.

    Like

    • 55
      Red Ed Millipede says:

      I am in full agreement that this institutional corruption must stop and when I get into power I will enforce a new anti-corruption act.
      Anyone know when the next bandwagon is due?

      Like

  23. 30
    ToonBert... says:

    Oh happy days…… The Saintly Mirror, the Guardian of the dumbed down lefties, how the mighty are falling hahahahahahahahahahaha

    Like

  24. 32
    Rupe, Corrupto Supremo says:

    Where is good old “Bob” Maxwell when you need him.

    Like

  25. 35
    I don't need no doctor says:

    Mirror, mirror, on the wall,
    When are you and the BBC going to fall.

    Like

  26. 36
    Rupe, Corrupto Supremo says:

    I do believe I have said it before, but NEVER trust a man who has a permanently sweaty top lip, which when he speaks combines tightly with the lower lip to form a perfect anus. Just watch when Piers is lying (ie speaking)

    Like

  27. 42
    Alex says:

    Don’t be such an idiot. The cost of paying off the pension fund deficit is already factored into the share price/market cap.

    Like

  28. 45
    Uncle Rupert says:

    Hahaha…where’s Jimmy when you want a smart arse comment?

    Like

    • 62
      Anonymous says:

      combination of uncle and rupe suggest that murdoch is a benevelont father figure?
      a father of the nation. Interesting that an australian by birth is seen as a father figure by some in this country.

      In any case what is wrong with our own fathers?

      Like

  29. 46
    TNI Shareholder says:

    The pension fund deficit is more than covered by the freehold property portfolio.

    I hate the Mirror’s views but this company is not going bust anytime soon.

    This guy’s blog covers TNI in some detail http://paulypilot.blogspot.co.uk/

    Like

  30. 47
    Brown out and pay me damages says:

    Hahahahahahahaha Hahahahahahahaha Hahahahahahahaha Hahahahahahahaha Hahahahahahahaha

    Like

  31. 49
    Maggies Pearl Necklace says:

    one may partake in a wee dram today

    Like

  32. 52
    Tom Mein says:

    Wonder if Piers had some insider information and had shorted Mirror group shares?

    Like

  33. 53
    will says:

    when the phone hacking reveltions first came out, and the BBC and guardian pointed the finger, I said that given the nature I bet they were all at it. I hate to be a smartarse but i was proved right so all this gloating by the guardian and bbc was premature.

    I have also on this blog said that the jimmy saville relelations would prove to be uncomfortable for a lot of senior executives at the BBC. All we need know is for a senior executive to provide solid evidence of a peado ring at the BBC. It would take too much knowledge for someone to at the time set up a secret camera to record this. If the plod arrest a few senior bbc employees they might fimd someone willing to provide solid evidence to mitigate jail time, also given the guardian close links it could be problematic.

    Like

  34. 57
    Pundit too too says:

    Where is Moussa Kousa?
    Don’t say he is a beeboid and now resting?

    Like

  35. 59
    I am not related or connected to scrounging arseholes in Edinburgh says:

    Those who think that hacking is just connected to NOtW need to GET REAL! Deluded arsewipes!

    Like

  36. 60
    Maggies Pearl Necklace says:

    do you think the yanks will extradite him……

    Like

  37. 69
    Worker says:

    Ha ha, plus losing out in court and having to cough up some dosh to Frankie yesterday. Things can only get better, can only get better.

    Like

  38. 70
    Chris The Leatherman says:

    I have listened to the BBC headlines most of the day this seems to be non-story ! Surprise, Surprise as Cilla would say.

    Like

  39. 71

    If you actually buying to get looks they are nice. I picked up them for my significant other and your woman loves them all. Audio wise they may be not the top but are nevertheless better as compared with those white earbuds. They moreover get attractive loud. Will harm your head after a couple of hours though.

    Like


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