T. Bailey Forman, the regional publisher is prepared to sell its stable of Midlands-based newspapers, including the Nottingham Evening Post and the weekly Long Eaton Advertiser.
The family-owned company is said to have received a number of offers for all or parts of the group from potential bidders. If none of the offers are considered “exceptional”, the titles will remain in the ownership of the current shareholders. Industry sources say that the sale could fetch at least £40m. In spite of Midland Independent Newspapers’ recent success on its stock market flotation, £193m, TBF’s directors believe they can achieve a better deal through trade auction than a public offer.
Trade press reports suggest that competition to acquire the titles would be intense, with Trinity and Thomson among the most interested parties.
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