He will oversee DMGT's media arm, which houses titles including Metro, the i and New Scientist, as well as the Daily Mail and Mail on Sunday.
Chairman Lord Rothermere told staff: “Although he will not be involved in day-to-day editing, he will be taking an active role advising me and the editors.”
DMG Media publisher Martin Clarke said, “Nobody has done more to make the Mail titles what they are today than Paul Dacre and I am honoured to be working with him.”
“His journalistic courage and judgement are beyond equal and editors and executives the length of Fleet Street can testify personally to how much they owe to his encouragement and counsel,” he said.
“DMG Media is extremely lucky to be able to draw on such a legendary talent.”
Dacre pulled his application for the role of Ofcom chairman on Friday, it being the second time he had applied. He initially applied for the role in May this year and was rejected by an interview panel, before the government advertised the vacancy again allegedly to give Dacre a chance to re-apply.
Writing to The Times, Dacre said that unless you were allied “with the liberal/left, you will have more chance of winning the lottery than getting the job.”
In the same letter he revealed that he was instead about to start an “exciting new job in the private sector.”
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