A race to acquire titles at Regional Independent Media is under way after Johnston Press revealed it was asking the Government’s permission to make a bid for RIM’s seven daily titles and 40 weeklies.

The revelation came after Gannett UK said it was making a formal approach to the Competition Commission for the same purpose.

Now both groups have their hat in the ring in what could turn into a takeover race for the newspaper company, thought to be worth around £650m.

Edinburgh-based Johnston’s interest, along with that of Gannett, marks a further step towards consolidating the regional press industry.

RIM is the sixth largest regional publisher in the UK and the interest from the two larger companies marks a further step towards a consolidation in the industry.

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