It is understood that the bidding for Trinity Mirror’s Belfast Telegraph newspaper has been reduced to just three suitors – Guardian Media Group, US group Gannett and Independent News & Media. According to a report in this morning’s Times, other possible bids by Regional Independent Media and a management team appear to be out of the running.
The lucrative Belfast Telegraph title had to be sold as a condition of last year’s merger between Trinity and Mirror Group (see Trinity And Mirror Seal Merger In £2bn Deal). It is expected that the paper could bring up to £250 million for Trinity Mirror.
Dublin-based Independent News & Media produces the Independent and Independent On Sunday titles. Its owner, Tony O’Reilly, has recruited a number of key political and business figures to back his bid for the Belfast Telegraph stressing that a takeover would not affect the Northern Irish paper’s political character.
US publishing giant Gannett already owns the Newsquest regional newspaper group in the UK and is currently seeking permission to bid for Newscom (see Gannett Seeks Permission To Bid For Newscom).
It is likely that any bids for the Belfast Telegraph will be referred to the Competition Commission.
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