Trinity Mirror has confirmed that it is interested in making a takeover bid for regional newspaper publisher, Newscom. Trinity has approached the Newscom Board and has written to the secretary of state for Trade and Industry, Stephen Byers, seeking permission to make a bid.
Trinity Mirror’s interest follows similar letters to the Department of Trade and Industry from US publishing group Gannett (see Gannett Seeks Permission To Bid For Newscom) and UK regional publisher Johnston Press (see Johnston Press Joins Bidding Race For Newscom). The proposed bids may all be referred to the Competition Commission to determine whether the mergers would breach newspaper ownership rules.
Newscom publishes 119 titles which have a combined average weekly circulation of around 2.7 million copies. The company’s shares dropped by 62˝p between Thursday and Friday last week to close at 1,387˝p. This values Newscom at £339 million.
Trinity Mirror: 0171 293 3000Newscom: 0171 583 8827Department of Trade and Industry: 0171 215 5600
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