The purchase of Scottish media firm SMG’s newspaper titles by US group Gannett has gained regulatory approval.
As expected, the Department of Trade and Industry has given the green light to the £216 million ($341m; €313) deal, which sees Gannett – owner of leading stateside title USA Today – acquire the Herald, Sunday Herald and Evening Times titles plus eleven magazines.
Said anti-trust minister Melanie Johnson: “The Competition Commission found that, as Gannett does not currently operate within Scotland, the transfer will not alter the structure of the Scottish market.”
SMG shareholders gave the deal their blessing earlier this year [WAMN: 28-Jan-03].
Data sourced from: MediaGuardian.co.uk; additional content by WARC staff