OFT approves Daily Mail purchase of the Topper
The Daily Mail General Trust's acquisition of the Topper has been given the green light.
The Office of Fair Trading (OFT) has cleared the Daily Mail General Trust's proposed purchase of The Topper newspaper, which is a freesheet publication issued weekly, opening the doors for merger and acquisition consultants to finalise the deal.
Currently, the Daily Mail General Trust publishes the Nottingham Post every day but the OFT's investigation said despite the tie-up potentially resulting in the company owning a high concentration of the local newspaper market, other competitive restraints would offer some protection to consumers, local businesses and the wider public.
Chief executive of the OFT John Fingleton argued it is important this particular sector has a strong level of competition for the sake of advertisers and readers.
"We have concluded that, in this case, the merger will not substantially lessen competition," he remarked.
"I welcome this decision. The merged group will be much better-placed to serve the Nottingham business community," director of Topper Newspapers Ian Spring declared.
Posted by Ron Maverick
Source: OFT press release, June 1st