Big guns want cut in Trinity boss's pay

Institutional investors in Trinity Mirror are urging chief executive Sly Bailey to halve her base pay to £375,000 from £750,000 in light of the newspaper group's difficult trading.

Trinity's stock market value has halved to 106 million in the past year as the newspaper industry has been hit by factors including falling advertising and higher newsprint costs.

One institutional investor said that Bailey's remuneration - which rose to 1.7m last year with bonuses and pension - was "untenable if the market capitalisation remains at this level".