UK
03/12/2013 10:35 GMT | Updated 03/12/2013 10:39 GMT

Paul Dacre Sells Remaining Daily Mail Group Shares, Sparking Debate Over Editor's Future

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LONDON, ENGLAND - FEBRUARY 09: Paul Dacre, editor of The Daily Mail, arrives at the High Court to give evidence to the Leveson Inquiry on February 9, 2012 in London, England. The inquiry is being led by Lord Justice Leveson and is looking into the culture, practice and ethics of the press in the United Kingdom. The inquiry, which will take evidence from interested parties and may take a year or more to complete, comes in the wake of the phone hacking scandal that saw the closure of The News of

Daily Mail editor Paul Dacre has sold his remaining shares in the newspaper's parent company Daily Mail & General Trust for £347,564.

News of the share sale will spark speculation about Dacre's future, as the 65-year old has edited the Daily Mail since 1992 and was paid nearly £1.8 million in 2012. He also serves as editor-in chief at dmg media, which publishes the Daily Mail and the Mail on Sunday among other titles.

Dacre's reign at the Daily Mail has attracted controversy, with Labour peer Lord Sugar in October branding him a "tyrant" and demanding parliament "flex its muscles" to get him fired.

Alastair Campbell said Dacre was a "bully and a coward" for refusing to appear on television to defend his paper's decision to accuse Labour leader Ed Miliband's father Ralph of “hating Britain”.

DMGT chairman Viscount Rothermere confirmed in October that Dacre had signed up to a new contract, after agreeing to a change to his employment terms in 2011 in an arrangement that expired when he turned 65 on 14 November.

Dacre sold his final 37,861 DMGT shares at £9.18p a share on the 28 November, with the price nearly 70% higher than the same period last year. The Daily Mail boss had less success last year when he made only £400,000 from selling 100,000 DMGT shares, as he did so at a five-month low.

Last week, the DGMT posted a 10% rise in pre-tax profits to £282 million for the year to 30 September.