Byers Clears RIM Bid Proposals

Trade and industry secretary Stephen Byers has cleared all three bid proposals for regional newspaper publisher Regional Independent Media. Byers said that a transfer of RIM’s newspaper titles to either Gannett, Johnston Press or the Guardian Media Group would not operate against public interest.

The three put forward bid proposals for RIM, which owns the prized Yorkshire Post, in July this year (see Guardian Group Joins Bidding War For RIM). The proposals were then referred to the Competition Commission, which has been gathering evidence on the suitability of each and the effect of further consolidation within the regional newspaper industry.

Byers gave unconditional clearance to all three bids and also gave consent for Trinity Mirror to purchase the north-west titles of RIM. Trinity, the largest regional publisher in the country, said that the entire RIM group was not a “must-buy” for the company (see Trinity Announces Positive Trading Report, Enhances ic24 Network) but declared an interest in the north-west titles, believing that not all three full bids would not be cleared without a divesture.

Stephen Byers passed all requests today, however, and the four groups are now free to approach RIM, which has been valued at around £700m.

Regional Independent Media: 0113 243 2701