INM Acquisition Of Belfast Telegraph Group Cleared

Independent News & Media (INM) has been given clearance from the Competition Commission to acquire the Belfast Telegraph group from Trinity Mirror plc, as it is not thought that the transfer would operate against the public interest.

Stephen Byers made the announcement yesterday, saying that when considering the Commission’s report he had been “mindful of the particular importance of accurate presentation of news and free expression of opinion in Northern Ireland and the role played by the Belfast Telegraph in appealing to readers across political and regional divides.”

Trinity Mirror had to find a buyer for its Northern Irish titles as part of the conditions of its merger last year (see Trinity And Mirror Seal Merger In £2bn Deal). The Belfast Telegraph group includes the Belfast Telegraph, Sunday Life, Farm Trader and Community Telegraph.

The Commission found that the titles to be transferred to Dublin-based INM circulate almost exclusively within Northern Ireland, and that there was minimal competition between daily newspapers in the Republic and those in Northern Ireland. It also concluded that the differences between the two areas resulted in two distinct markets for newspaper advertising, with very little cross-border advertising.

The result of the acquisition will be that INM’s share of the daily local and national newspaper market in Northern Ireland will increase from 3.4% to 28.5%, while Trinity Mirror’s will decrease from 47.6% to 22.5%. However, the Commission found, “No evidence to doubt the commitment of INM to maintaining editorial freedom…[it] would not have the power as a result of the proposed transfers to raise either cover prices or prices to advertisers.”

Competition Commission: 020 7271 0100 Department of Trade & Industry: 020 7215 5600 Independent News & Media: 00 353 1873 1666 Trinity Mirror: 020 7293 3000