Trinity Mirror merger with Daily Express owner Northern & Shell cleared by culture secretary Matt Hancock

Trinity Mirror’s acquisition of Daily Express and Daily Star owner Northern & Shell Media Group has been cleared by culture secretary Matt Hancock.

A £127m deal for Reach Plc, the new name for the Trinity Mirror, to buy the Express owner was reached in February 2018, but has been subject to two regulatory probes since the start of May.

Hancock instructed two regulators, Ofcom and the Competition and Markets Authority (CMA) to investigate whether the merger would affect competition and media plurality in the newspaper market.

Both regulators reported back to Hancock on 31 May, finding no significant problems with the merger, effectively clearing the way for the deal to be completed.

“I accept the CMA’s findings that whilst it is, or may be, the case that a relevant merger situation has been created, the merger does not give rise to a realistic prospect of a substantial lessening of competition in any market,” Hancock said in a statement.

“I have also accepted Ofcom’s conclusions that the merger does not raise concerns in relation to plurality of views, nor does it raise concerns in relation to free expression of opinion in newspapers.

“In light of this, and having considered representations submitted by interested parties in response to the PIIN, I have written to the parties today confirming my decision not to refer the merger for a Phase 2 investigation.”

Simon Fox at Reach Plc said:

We welcome today’s decision by the secretary of state. Today we are two successful separate news organisations, but together we will be stronger and better able to compete and adapt to the challenging conditions in which we operate.