Jobs and local newspaper titles were under threat at Trinity Mirror today after the owner of the Daily Mirror national tabloid prepared to cut costs by at least £20 million next year.

A spokesman for Trinity, under pressure from a sharp decline in advertising revenues and an expensive debt burden, ruled out closing down any of the group's numerous regional titles, but refused to do the same for local papers, some of which are loss-making.

He also signalled that jobs would have to go, as the cost-reduction plan was introduced "everywhere and anywhere".

Today, Trinity unveiled the additional cost-cutting programme as it said worsening conditions in the advertising market had forced down revenues by 11.4 per cent during the 17 weeks to October 26.

Advertising revenues fell 19.4 per cent over the period, while circulation dropped 5 per cent.

Trinity Mirror told investors in a trading update today that a round of cost-savings already introduced for this year will have saved £25 million.

This is £5 million ahead of target and comes after Trinity pooled newsroom operations, shut down loss-making titles and pushed through a round of redundancies, including in its editorial departments.

Trinity has closed 17 titles since the end of June, including the Derby Trader and Formby Times. A total of 28 titles have been shut down since the beginning of the year.

UK media are under huge pressure amid few signs that the downturn in the advertising industry is likely to recover in the near-term.

Trinity said today that advertising at its Regionals division was down 12 per cent for the year to October 26, led by a slowdown in recruitment, housing and job ads.

At the Nationals division, which houses the Daily Mirror, Trinity said ad revenues were down 9.9 per cent for the year to date.

Digital revenues continued to improve, up 15.5 per cent during the 17 weeks to October 26, as the group felt the benefit of increasingly targeted online advertising.

Trinity, which has managed to cut its debt bill by £14 millin since the half year, said it was continuing to trade within its borrowing agreements with its banks. It added that it had agreed a deal with its pension scheme that meant it did not have to increase its payments.

Shares rose 4p to 33.25p.

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