Observers were still hanging on for the final chapter at the end of last week in the saga of Hotgroup’s potential purchase by Trinity Mirror.

Scottish publisher D C Thomson was said to be still buying shares in Hotgroup, where shares were holding at Recruiter’s press deadline at 21p per share – 0.75p above Trinity Mirror’s offer of 20.25p per share.

Hotgroup founder Harvey Sinclair (pictured) could not be reached for comment on Thursday. A spokeswoman for D C Thomson said: “We don’t comment on our investments.”

Hotgroup’s half-year results revealed exceptional administrative costs of £785,000 and a £6m goodwill write-off, resulting in a pre-tax operating loss of £5.5m. However, turnover rose from £17.6m to £23.5m.

Analyst Rodney Hobson of Hemscott Invest told Recruiter that he questions what a major print publisher will bring an online operator such as Hotgroup in terms of improving its existing capabilities. “I don’t think major newspapers have yet come to terms with what they want to do with online,” he said.