Trinity Mirror
Bailey joined Trinity Mirror as chief executive in February 2003.[4]
On 30 June 2008, Trinity Mirror issued a trading statement forecasting a 10% reduction in anticipated profits, leading to a collapse in the share price to a low of 73.5p, compared to its 12-month high of 557.5p.[5][unreliable source?]
The Independent's media columnist Stephen Glover pointed out that the company's market value had slumped from £1.5 bn to £250m, and commented: "... it is difficult to see how Sly Bailey, Trinity Mirror's preposterously well-rewarded chief executive, can remain much longer in her job . . . "[6]
In July 2011 Bailey launched an investigation into editorial controls and procedures at Mirror Group newspapers following allegations of phone hacking.[7] In October 2011, Bailey became the first serving media executive to appear at the Leveson Inquiry.[8]
Late on 3 May 2012 it was announced that Bailey was to leave her post at Trinity Mirror by the end of the year,[9] but she in fact left in mid June.[2] The General Secretary of the National Union of Journalists, Michelle Stanistreet, said of her at the time: "Finally, Sly Bailey is doing the decent thing and leaving the company she has led into monumental decline."[2] Reportedly, she received a £900,000 payoff.[10]
In 2023, in a judgement against Trinity Mirror (now Reach PLC) and in favour of Prince Harry about the phone hacking scandal, judge Timothy Fancourt said that Bailey “knew or – what in law amounts to the same thing – turned a blind eye to it [unlawful information gathering] from about the end of 2006” whilst she was CEO.[11][12][13]