In a statement released yesterday (23 April), Hancock raised concerns over the need for free expression of opinion and the potential impact that the transfer of newspapers would have on editorial decision making.
He also stressed the need for “a sufficient plurality of views in newspapers, to the extent that it is reasonable or practicable”.
“In coming to this minded-to decision I have taken into account that the merged entity would own the largest share of national titles within the UK newspaper market, owning nine out of 20 national newspaper titles,” he said.
“[It would also] become the second largest national newspaper organisation in circulation terms, with a 28% share of average monthly circulation based on circulation figures for 2017 among national titles, including daily and Sunday titles.”
He added any decision to intervene would require Ofcom to assess and report to him on the public interest considerations, and for the Competition and Markets Authority (CMA) – which launched an investigation into the competition aspects of the deal earlier this month – to report on jurisdiction.
“In line with the guidance that applies to quasi-judicial decisions, I have invited written representations from the parties and will aim to come to a final decision on whether to intervene in the merger shortly,” Hancock said.
Trinity chief executive Simon Fox said: “This is a part of the process that we were aware was possible following our acquisition of the Northern & Shell publishing assets. We continue to believe there are no plurality or competition issues.
“We would expect any review by Ofcom arising from this DCMS [Department of Culture, Media & Sport] statement would happen in parallel with the CMA review, which we expect to conclude by 7 June 2018.”
Trinity Mirror agreed the near-£200m deal to acquire Northern & Shell’s publishing assets at the beginning of February. The assets include the Express and Star newspapers, weekly magazines OK! and New!, and the Westferry Printers newspaper printing site in Luton.
The company is also set to change its name to Reach and said a resolution proposing the rebrand will be put forward at its Annual General Meeting on 3 May.
