We may snigger at Richard Desmond, but we should not underestimate him
From our UK edition
Is Richard Desmond the new Murdoch? Many lips were curled when he acquired Express Newspapers in November 2000. People said that he had borrowed too much money. It was suggested that as a man whose fortune was built on pornography he knew next to nothing about running national newspapers. In some quarters he was dismissed as a foul-mouthed vulgarian who would be unable to halt the long decline of the Daily and Sunday Express. Nearly three years later Mr Desmond is taken more seriously. Largely as a result of ferocious cost-cutting, he has increased the profits of Express Newspapers, last year pocketing nearly £21 million for himself. The Daily Express has been stabilised, and is even selling a few more copies.