He claimed 1XL will be “similar in scale to digital advertising platforms such as AOL and MSN”, but it would still lag Google and Facebook in size.
Newsquest boss Henry Faure Walker said the UK’s online display ad market is worth £2 billion and local papers, with their “quality content”, should “take their rightful share”.
Trinity Mirror, the other big UK regional publisher, is not part of 1XL but it is an investor in Local World.