Six join race for Northern papers

AT LEAST six first-round bids have been made for the Northern Ireland titles of British newspaper publisher Trinity Mirror.

Yesterday was the closing day for first-round bids for the titles, including the Belfast Newsletter, which are expected to net Trinity Mirror around €55m. It is believed Trinity will only accept a bid for the entire stable of papers.

There is strong interest in the titles given the strength of the local newspaper market. Bids are believed to have been lodged by Independent News and Media, Scottish Radio Holdings, private equity firm HgCapital in conjunction with ex-Independent executive David Palmer, and Thomas Crosbie Holdings, owners of the Irish Examiner. The Ulster Unionist MP, David Burnside, has also expressed an interest, as has Archant, which backed the collapsed Dublin Daily, as well as Johnston Press.

There had been speculation that an international group, such as USA Today publisher Gannett who has been busy acquiring papers in London and Glasgow, would enter the fray. But according to sources, the bidders are all British and Irish media groups.

The papers up for sale are the Belfast News and Farming Life, Derry Journal, Donegal Democrat, Donegal People’s Press, Letterkenny Listener, Foyle News and the City News.

One problem facing any bid from Independent News and Media is its existing newspaper stable in Northern Ireland, namely the pro-Unionist Belfast Telegraph. The acquisition of the “Bel Tel” by Independent three years ago was greeted by objections from the Unionist community and it had to agree not to change its editorial line.

Thomas Crosbie Holdings has two Northern papers both based in Down, the Newry Democrat and the Down Democrat, while Scottish Radio Holdings owns the Mortons group, which has several newspapers across the North.

Trinity Mirror has put the titles up for sale as part of its revamp of the company under new chief executive Sly Bailey.