The merger deal which created publishing giant Reach plc has cleared its final regulatory hurdle after Culture and Media Secretary Matt Hancock ruled it required no further investigation.
Trinity Mirror purchased Richard Desmond’s Northern & Shell group, which included the Daily Express and Daily Star, for £127m in February.
The Competition and Markets Authority had launched a preliminary investigation into the deal on media plurality grounds before issuing a report to Mr Hancock at the end of last month.
On the basis of this report, Mr Hancock has now decided no further investigation by the CMA is needed.
Since the merger betweeen TM and Northern & Shell, the combined company has rebranded itself as Reach plc.
Chief executive Simon Fox commented: “We welcome today’s decision by the Secretary of State. Today we are two successful separate news organisations, but together we will be stronger and better able to compete and adapt to the challenging conditions in which we operate.”
Although Mr Fox has previously admitted that the merger would lead to some job cuts to remove “duplication” – such as only sending one reporter to cover football matches – he has insisted that the political teams of each newspaper in the enlarged group would not be “mixing in any way.”
“The Daily Express is not going to become left-wing, the Daily Mirror is not going to become right-wing,” he said earlier this year.
Sign up for our free daily email bulletin
Follow HTFP on Twitter
Got a story? Email the Editor at
“…some job cuts to remove ‘duplication’…” Oh boy, this is going to make The Texas Chainsaw Massacre look like a vicar’s summer tea party. Best of luck to everyone.
Report this comment
I could do the usual about wishing those who are about to become the victims of ‘duplication’ the very best of luck – and indeed I do wish them luck. Instead, I’m sitting with my head in my hands wondering a: what is the point of the CMA? and b: who are earth these days believes that bigger is really better?
Report this comment
Tell you what the people who are taken over by this won’t get. A similar redundancy package to the existing Trinity Mirror staff. All this ‘One Team’ mantra former Local World employees have to listen to doesn’t go as far as treating everyone the same when it comes to showing you the door. So yes, good luck to you all.
Report this comment
Intro’ might just as well read ‘The merger deal which created publishing giant Reach plc has cleared its final regulatory hurdle after Culture and Media Secretary Matt Hancock approved the redundancies’.
While some fools fret over Murdoch owning too much of the media, a deal is approved that clearly the CEO states copy and photos will be shared among titles. So Fox news is maybe worse than Murdoch media..?
Report this comment