Daily Mail & General Trust is reportedly preparing a bid for its mid-market rival, the Express Newspaper group. DMGT is expected to table a formal offer of up to £150m to United News & Media this week.
Such a bid would bring all of the UK’s mid-market titles under single ownership and would inevitably raise competition fears. There is a possibility that DMGT would set up a separate board to take responsibility for the editorial content of the Daily Express, Sunday Express and Daily Star.
At least two other groups are currently in the running for the Express titles. The Barclay Brothers withdrew their offer on Friday (see Sharewatch), claiming United failed to disclose sufficient financial information regarding the bid. The Telegraph Group, the Hinduja Brothers and a venture capital-backed group led by the Mirror’s David Montgomery are still believed to be involved in the bidding process (see Bid Rumours Continue To Circulate For Express Group Takeover).
DMGT: 020 7938 6000 Express Group: 020 7928 8000
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