Daily Mirror publisher Trinity Mirror scooped up titles including the Daily Express, Daily Star and OK! magazine for £127 million ($177 million) on Friday in the biggest shake up of Britain's cut-throat newspaper industry in decades.
The takeover by Britain's largest news publisher unites tabloids from opposite ends of the political spectrum, and with conflicting views on Brexit, to create a company better able to cope with readers and advertisers moving online.
"It's a challenging industry, that's why we need to come together," Trinity Chief Executive Simon Fox told Reuters.
"There is a lot of life left in print and there are a lot of opportunities in digital but no one is saying it's going to be easy," Fox said, adding he did not expect the deal to face major regulatory issues.
Billionaire Express owner Richard Desmond, who made his fortune publishing adult titles such as the British edition of Penthouse, will get an 8.6 percent stake in Trinity and £107 million in cash under the terms of the deal.
Fox said the editors of the individual titles would retain editorial control over their political output, with the Express free to pursue its support for Brexit and the Mirror able to criticise the government's handling of the EU departure.
"The Mirror is not going to go right-wing, the Express is not going to go left," Fox said.