Trinity Mirror has announced plans to cut dozens of jobs as part of a massive revamp of its regional newsrooms.
In a statement today it said after a review it had decided to cut 78 existing roles, but create 44 new jobs, including 17 focusing on video creation and production.
However, none of its regional titles will be closed.
The company said it had identified opportunities for greater investment around digital and content creation.
Neil Benson, editorial director for the regions at the company, said:
It is essential that we keep reviewing the way we are set up in order to stay relevant to readers, to capitalise on audience growth opportunities and to keep our costs in line with revenues.
As a result, this means we are proposing that a number of roles will be lost. However, this will be partially offset by a number of new roles being introduced, particularly around video creation and production, which we see as a significant opportunity.
Shares were down 0.8 per cent on the news, at 100.9p.
The news comes just a few days after it emerged the company is in the early stages talks with Richard Desmond over buying a number of titles owned by his Northern and Shell Media Group, including the Daily Express, Sunday Express, Daily Star and Daily Star Sunday.
Last year the company became the subject of mockery after it launched the New Day, a new newspaper which didn't have a website, and then closed it within weeks.
At the time, chief executive Simon Fox told City A.M.: "At the end of the day, what consumers told us they would do, and what they actually did, were different things.
“We couldn’t persuade enough people to try the product and make it part of their daily routine.”