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£200m papers bid referred to Competition Commission

Gannett has asked the Government for permission to buy the Herald, Sunday Herald and Evening Times, as the sale of the three SMG papers draws closer to a conclusion.

The American firm, which owns regional newspaper group Newsquest, is already a UK proprietor with a circulation of more than 500,000, which means the matter has to be referred to the Competition Commission for guidance.

The Commission will decide whether the proposed transfer of titles could be expected to act against the public interest.

The Glasgow-based Herald newspapers were put up for sale in September and Irish media firm Independent News & Media is also a contender, although SMG has not yet selected its preferred bidder. Fifteen candidates initially expressed an interest.

Any deal for the titles is expected to be worth more than £200m.

The Commission is due to make a decision on whether such a transfer of titles would be legal by the beginning of March.

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