The Telegraph reported the company “will aim to capitalise on the decline of print newspaper circulation and advertising, with David, 70, planning to “target struggling newspaper publishers in a takeover spree and strip out costs as he attempts to build a new digital giant.”
David, pictured, was chief executive of Local World when it was sold to Trinity Mirror for £220m in 2015, but left the business as a result of the deal.
Trinity Mirror’s successor Reach plc revealed last month it was in the “early stages” of talks to buy part of JPIMedia, which recently confirmed it is up for sale.
An unnamed industry source told City A.M. that Reach had been “knocked sideways” by David’s interest, saying he has launched a “relentless pursuit” of JPIMedia.
Former Reach and Trinity Mirror chief financial officer Vijay Vaghela is also registered as an officer at National World, filings on Companies House show.
Vijay served at the media group for almost 24 years, and was involved in Reach’s acquisition of Local World.
The source added they believed the combined experience of the two would make for a “formidable team.”
JPIMedia and Reach plc declined to comment when approached by HTFP.