RIM Bids Referred To Competition Commission

Proposals from regional newspaper groups Gannett and Johnston Press to bid for Regional Independent Media have been referred to the trade and industry secretary Stephen Byers. The regulatory body has until 27 September to decide if the proposed takeover bids act against the public interest and to report on its findings.

Last month Gannett began a bidding war for RIM, the sixth largest regional newspaper group in the UK (see Gannett Seeks Consent To Bid For Regional Independent Media). A week later Johnston Press also asked for consent to make a bid (see Johnston Press Joins Race For RIM).

Under current regulation the consent of the trade and industry secretary is obliged before any acquisitions can be made. He is then under obligation to refer any planned takeover bids to the competition authorities.

DTI: 020 7215 5000