LONDON (AP) — UK media group Trinity Mirror PLC said yesterday that it is paying £44.8 million ($70 million) to buy the Guardian Media Group's regional media titles. The deal will add the Manchester Evening News, the Surrey Advertiser and Reading Post to the stable of Trinity Mirror, publisher of the Daily Mirror, a national daily paper.

The businesses acquired from Guardian Media Group made no profit last year, Trinity Mirror said. Carolyn McCall, chief executive of Guardian Media Group, said the sale was motivated by the need to support the company's national daily, The Guardian.

"GMG is mandated to secure the future of the Guardian in perpetuity, and we have a strong portfolio which has to be in the right shape to achieve that goal," McCall said.

"GMG Regional Media is a good business and a publisher of important newspapers. However, we believe Trinity Mirror, as the UK's biggest regional publisher, is best placed to develop this business," McCall said.

Trinity Mirror shares were down half a percent at 137.2 pence on the London Stock Exchange. GMG last year laid off 150 staff at MEN Media, the part of Guardian Media Group which publishes the Manchester Evening News and 22 weekly newspapers.

Guardian Media Group reported a pretax loss of £90 million for the year ending March 28.

The Guardian has embarked on a cost-cutting drive, and says about 40 editorial staff including Jerusalem correspondent Rory McCarthy and Los Angeles correspondent Dan Glaister have accepted voluntary redundancy.