Robert Maxwell fraud haunts Mirror publisher as pension eats cash [Yahoo! Finance]
TEGNA Inc (TGNA)
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Source: Yahoo! Finance
The owner of the Mirror newspaper is paying more than two-thirds of its cash flow into the pensions fund raided by Robert Maxwell following an intervention by the watchdog over a shortfall of more than £200m. Reach, which also owns the Express and dozens of local newspapers, has agreed to increase its funding for the troubled MGN pension scheme amid concerns it lacked sufficient reserves to pay for its retired employees A resolution brokered by the Pensions Regulator will result in Reach increasing its total investments in the MGN pension scheme to £61.3m this year and to £62.1m in 2026 and 2027. The increases worth £5.1m a year, or £25.5m across a period running from 2023 to 2028, are aimed at making up a £219m deficit in the scheme. The higher payments into the scheme mean Reach's contributions to the fund will now consume sums equivalent to 69pc of the £89.5m worth of cash flow it generated from its operations in 2024. John Ralfe, an independent pensions consultant, said
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TGNA
Earnings
- 11/10/25 - Miss
TGNA
Sec Filings
- 11/21/25 - Form 8-K
- 11/10/25 - Form DEFA14A
- 11/10/25 - Form 8-K
- TGNA's page on the SEC website