OFT looking at Trinity’s MEN swoop
COMPETITION chiefs are investigating media group Trinity Mirror’s £45m takeover of the Manchester Evening News and its sister titles.
The Office of Fair Trading said it is inviting comment on the deal which was announced last week after months of speculation over the future of the flagship newspaper.
In a brief statement the OFT said it is considering whether the deal creates “a relevant merger situation” and “will further consider whether the creation of that situation may be expected to result in a substantial lessening of competition” within the regional newspaper market.
The takeover is expected to complete in late March. Should the initial investigation raise sufficient concern, the deal could be referred to the Competition Commission.
Trinity Mirror publishes the two Liverpool Daily Post and Echo, but does not have a presence in the Greater Manchester market place.
The listed media group is only paying £7m in cash for the MEN and the weeklies, with the balance relating to a printing contract.
The deal saw the departure of MEN Media chief Mark Dodson and managing director Ruth Spratt, with former finance director David Sharrock named as the new overlord.
Since the announcement it has emerged that the MEN operation would be relocated to Oldham, but since then there has been talk of a deal to keep some editorial presence in the city centre.
