LONDON (Brand Republic) – The Guardian Media Group, owner of The Guardian newspaper, has expressed its interest in newspaper group Regional Independent Media, publisher of the Yorkshire Post, Sheffield Star and Lancashire Evening Post.
US firm Gannett, owner of Newsquest in the UK, has already made a bid for RIM as has Scottish newspaper group Johnston Press. One of the earlier bidders, Trinity Mirror, has already pulled out of the contest.
The matter has already been referred to the Competition Commission, under media ownership rules which state the government is obliged to refer the acquisition of any newspaper company with a combined paid-for circulation of more than 500,000 per day.
RIM is 50% owned by venture capital firm Candover and was formed when the regional newspaper division was acquired from United News & Media in 1998. The company’s value could reach as much as £650m according to analysts.