UK Regulator Curb's IN&M's Regional Sell-Off

23 October 2003

Independent News & Media, the family-owned fiefdom of former Heinz chief executive Sir Anthony O'Reilly, has been told to rethink its regional sell-off plans by Britain's Competition Commission.

Eager to bolster the IN&M balance sheet with the disposal of twenty-three regional newspapers, O'Reilly has been told by the regulator that ten of these titles cannot be transferred to Newsquest (the UK's second largest regional newspaper publisher and a unit of America's Gannett Corporation) on public interest grounds.

Whether this will torpedo the entire deal remains to be seen.

Data sourced from: Media Week (UK); additional content by WARC staff