Meanwhile, DMGT added that at its regional newspaper division, Northcliffe, sales remained strong while advertising had grown 6%.
Managers at the Northcliffe Media-owned title said everything was being done to avoid compulsory job losses.
Managers at the Northcliffe Media-owned title said there was a chance of editorial staff being made redundant.
Such clout and vigour persuaded Lord Northcliffe, proprietor of the Daily Mail, to sponsor the 1908 Games.
In a statement, Daily Mail and General Trust said that it was "currently in talks regarding the future of Northcliffe Media".
On Sunday, Daily Mail and General Trust said it was in talks over the future of its Northcliffe Media local media arm.
Northcliffe Media's titles include the Leicester Mercury, Bristol Post and Derby Telegraph.
Trinity Mirror then announced it was working on forming a new company comprising the assets of Northcliffe and of Iliffe News and Media.
Associated Northcliffe Digital, an arm of the media group that runs the Daily Mail newspaper, is rolling out a string of town-oriented websites.
Northcliffe's advertising revenue fell 10% and it cut employee numbers by 19%, or 602 people, during the year as part of a cost-cutting drive.
The chairman of Local World will be David Montgomery and its chief executive will be Steve Auckland, currently the chief executive of Northcliffe media.
The big players in regional media Johnston Press, Newsquest, Northcliffe Media and Trinity Mirror, which between them control around half the market grew swiftly during the boom years.
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The background is that Mr. Auckland is a senior executive (CEO) within Northcliffe Media, the local newspaper arm of the company that owns the Daily Mail.
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Local World acquired the newspapers when it took over Northcliffe Media, the regional publishing arm of Daily Mail and General Trust and Iliffe News and Media last December.
Earlier this year, the Daily Mail and General Trust (DMGT) cut 1, 000 jobs at its regional arm Northcliffe Media, which publishes more than 100 newspapers in England and Wales.
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