Johnston Wins Takeover Approval For Portsmouth & Sunderland Newspapers
The Competition Commission (CC) today cleared Johnston Press’ takeover of Portsmouth & Sunderland Newspapers (PSN). Johnston’s £266 million offer was agreed by the PSN board in May (see Johnston’s P&S Acquisition Boosts Coverage). This offer topped bids from both Newscom and Newsquest, which were also cleared by the CC today.
The competition and consumer affairs minister, Kim Howells, says: “The CC have looked carefully at the effects of the transfers on the accurate presentation of news and free expression of opinion, concentration of ownership, and efficiency and employment. I accept their conclusion that the proposed transfers of the PSN newspapers to Johnston, Newsquest or Newscom may be expected not to operate against the public interest.”
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