Richard Desmond is introducing a flurry of cover-price changes across his Northern and Shell newspapers and magazines, including slashing more than £1 from the price of his flagship celebrity title OK!.

Desmond, whose media portfolio spans magazines, newspapers and TV, will cut the cover price of OK! Magazine from £2.60 to £1.49 from January 12^th. It is unclear if the discount will be permanent, but it means the publication will trade at a significantly lower than its rival Hello!, which is priced at £2.

OK! recorded a circulation of 478,878 in the period January to the end of June 2010, down more than 100,000 copies on the year, while Hello! was close behind with 412,195 during the same period. OK! is also sold in a bumper pack alongside sister titles New and Star with a cover price of £2.99, which is expected to remain the same.

Star magazine, which has a latest audited circulation of 440,862, will reduce its cover price from 99p to 60p from January 11^th, but while Northern and Shell magazines benefit from a price cut, Desmond is lifting the cover price of the Daily Star. From January 10^th, the newspaper will go up from 25p to 30p between Monday and Friday across the Granada, Yorkshire and TyneTees regions. The price will rise from 20p to 25p in the Carlton area.

Desmond has been discounting the price of the Daily Star across the country as he looks to pinch readers from rival tabloids like The Sun and the Daily Mirror. In November 2010, the Star registered a circulation of 756,686.

MEC opinion: As the July-December ABCs approach in February and Hello! readies itself for full coverage of the Royal Wedding, it would seem OK! is instead preparing for a tough few months. The price reduction will not only help them compete with Hello! during a period in which it's expected to do well, but it will also help them continue to compete against the cheaper weekly titles in the market.