OFT decision on acquisition

BRITAIN’S Office of Fair Trading said it will not refer Johnston Press PLC’s acquisition of Northern Ireland’s Local Press Ltd, publisher of the Derry Journal, to the Competition Commission, providing certain conditions are met.

It was acquired from private equity group 3i for £65 million (€95m) in September.

“Our findings are that this merger raises no competition issues in local newspapers or in newspaper printing,” the OFT said in a statement.

“However, the merger would result in a substantial lessening of competition in the supply of farming publications in Northern Ireland, as it brings together the two most significant titles.”