Regional paper owner in trouble

Mecom, the British company which owns the Wegener regional paper group, is in serious financial trouble, the Volkskrant reports on Monday.

Six members of the board, including two Dutchmen have quit, the paper says, because they no longer have confidence in Mecom’s founder and CEO David Montgomery.
Wegener is the most important part of Mecom’s European newspaper empire, the paper says and could well be up for sale.
Former Wegener CEO Jan Houwert, one of the six board members who have quit, has seen the value of his stake in the company shrink from €100m to just €2m, the paper says.

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