GANNETT UK, the parent company of Lancashire Evening Telegraph publishers Newsquest, has entered into an agreement with rival company SMG to buy its three Glasgow-based Scottish regional newspapers.
The £216 million deal for The Herald, Sunday Herald and Evening Times, along with 11 specialist consumer and business magazine titles and an online advertising and content business, is subject to approval by the Secretary of State for Trade and Industry.
The Department has referred Gannett's application to acquire SMG Publishing under the special mergers regime to the Competition Commission, which is expected to report by March 10.
Douglas H McCorkindale, chairman, president and chief executive officer of Gannett Co Inc, said: "We are delighted that SMG Publishing will become part of Gannett. These publications will extend our portfolio to Scotland for the first time and offer enhanced opportunities for growth."
Paul Davidson, chief executive of Newsquest, said: "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."
Newsquest is the UK's second largest regional newspaper company, publishing more than 300 titles, including 15 daily newspapers.
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