UK: SOUTHNEWS BOUGHT BY TRINITY MIRROR

Article Abstract:

In order to raise its profile in south-east England, Trinity Mirror has purchased Southnews for GBu 285mn.It will pay 1,200 p a share in cash for Southnews which publishes a total of 84 titles. Trinity hopes it will not be necessary for the deal to be approved by the Competition Commission because none of the titles has an average daily- paid-for circulation exceeding 50,000. Trinity Mirror also aims to cut costs by GBu 4mn in the first year it owns Southnews. It hopes to achieve this by delisting the company, stopping external national advertising sales and using Trinity Mirror presses for Southnews printing.

Newspapers NEC, Southnews PLC

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UK: IN & M GIVEN GO-AHEAD TO BUY BELFAST TELEGRAPH

Article Abstract:

Independent News & Media (IN & M) has been given the go-ahead to acquire Belfast Telegrpah for GB[pound] 300mn by the Trade and Industry Secretary, Stephen Byers. There was opposition originally from the deputy leader of the Ulster unionist party, John Taylor, because he feared that printing jobs would be transferred from Belfast to Dublin, but those fears have been allayed. Stephen Byers has said that he sees no reason to believe that IN & M will raise cover prices or increase charges for advertising, and that competition is 'minimal'.

Independent News and Media, Byers, Stephen

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UK: BIDDERS FOR NEWSCOM MAY PROCEED

Article Abstract:

The three bidders for Newscom, which publishes the Southampton Daily Echo, have been cleared to proceed with their bids, following a ruling by the UK Competition Commission. An auction is being planned for the company, whose market capitalisation is around GB[pound] 370mn. The bidders are US-owned Newsquest, the newly merged Trinity Mirror group, and Johnston Press, the owner of the Portsmouth and Sunderland group. It is thought that offers will begin to be made before the end of April 2000.

Mergers, acquisitions and divestments, Newsquest Media Group Ltd., Johnston Press PLC

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