Newspaper group withdraws interest in acquiring Grimsby Telegraph and its sister UK titles

 

Today's edition of the Grimsby Telegraph

IT'S as you were at the Grimsby Telegraph - part of the Reach plc newspaper empire.

Earlier this month, another company, National World, revealed that it was poised to launch a takeover bid for Reach which, as well as the Grimsby title, also owns the Daily Mirror, the Daily Express and many regional and local newspapers.

But yesterday, NW issued the following statement: "Following further work with its advisers, National World has concluded that, while there are considerable industrial and financial advantages to combining the newspaper portfolios of the two companies, the circumstances are not aligned to proceed any further with the possible offer."