The agreed acquisition of Scottish Media Group’s daily newspaper titles The Herald and Evening Times (along with other newspaper properties) by the Gannett Company, America’s largest newspaper group in terms of circulation, is unlikely to be blocked by the UK Competition Commission.
The commission sees “no visible overlap” – despite the fact that Gannett also happens to own Newsquest, the UK’s second largest publisher of regional and local newspapers with a portfolio of over 300 titles including fifteen regional dailies.
The watchdog, conscious perhaps that scrutiny must be seen to be done, has written to SMG and Gannett to highlight the main areas that need to be explored before the deal is formally approved.
Gannett's offer, made via Newsquest, of an estimated £216 million ($355.27m; €330.62m) was accepted by SMG in December.
Data sourced from: mad.co.uk; additional content by WARC staff