SMG has agreed to sell The Herald, Sunday Herald and Evening Times to American firm Gannett as part of a £216m deal.

The sale, which is subject to approval by the Competition Commission, will also include 11 business to business and specialist consumer magazine titles, and an online advertising and content business.

Gannett asked the Government for permission to buy SMG’s publishing business earlier this month, ahead of any deal being agreed, as it already owns regional newspaper group Newsquest, a UK proprietor with a circulation of more than 500,000.

The Commission is expected to make a decision by March 10 on whether such a transfer of titles would be legal.

Announcing the deal, Andrew Flanagan, chief executive of SMG, said: “The sale of our publishing business, in a relatively short space of time, is to the benefit of everyone involved – readers, advertisers, staff and shareholders.

“This is an excellent price, for an excellent business and I’m confident that it will continue to thrive under its new owner.”

Paul Davidson, chief executive of Newsquest and president of Gannett UK, said: “SMG Publishing’s prestigious titles will make an excellent combination with our existing newspaper, printing, magazine and related internet sites.

“The management and employees of SMG Publishing share our commitment to provide quality editorial products to both readers and advertisers in the communities we serve.”

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