Caledonian may bid for Scotsman
Thursday 10 August 1995
The Scottish newspaper industry was thrown into turmoil last night following the revelation that the Glasgow Herald is considering mounting a bid for its main rival, the Edinburgh-based Scotsman.
Insiders at Caledonian Publishing, owners of the Herald, confirmed that the company has written to Thomson Regional Newspapers, owners of the Scotsman, expressing interest in buying the paper. Thomson Corp of Canada announced the sale of the Scotsman and its other Scottish titles, including Scotland on Sunday and the Aberdeen Press and Journal, last month.
Analysts say Caledonian's bid is "serious" and that a funding package, backed by Robert Fleming, the merchant bank that owns 58 per cent of Caledonian, is in place. Although the Glasgow-based company is likely to face stiff competition from London media organisations, executives are understood to be keen to ensure that the paper remains in Scottish hands.
Caledonian is one of 11 companies believed to be preparing bids for Thomson's Scottish titles. The Mirror Group, publishers of the Glasgow Daily Record, and Associated Newspapers, publishers of the Daily Mail, are understood to be in the running, along with the Dundee-based DC Thomson Corp. and the Falkirk-based Johnston Press.
None has so far confirmed its interest. The only group publicly to declare its hand is a consortium of Tory businessmen led by the Glasgow lawyer Professor Ross Harper. It is not considered a serious contender.
If Caledonian makes a formal bid, it would almost certainly be referred to the Monopolies and Mergers Commission since the company would control all of Scotland's large quality newspapers. Bidders are expected to examine the Scotsman's accounts next week and formal offers are likely to be submitted by the end of September.
filmFilm producers sue Warner Bros for $75m over Hobbit films
sportNapoli 2 Arsenal 0: Gunners must now face either Real Madrid, PSG, Bayern Munich, Atletico Madrid or Barcelona in knock-out stages
Swedish stars ask fans for £195 pledges on crowd-funding website
voicesJust when you thought you could find a man, get married, and have a baby by the age of 35... it turns out you’re too late, says Grace Dent
musicAs Mariah Carey and Noddy Holder rake in the royalties from their classics, why there hasn't been a decent festive hit for 20 years?
theatreAuthor Daniel Rosenthal recalls the mishaps that almost brought the curtain down on the likes of John Gielgud and Diana Rigg
lifeAs the Royal Mail plans to phase out deliveries on two wheels, it's no wonder posties are in a spin
musicThe 21-year-old beat Ella Eyre and Chlöe Howl to win the honour
lifeFull of the joys and want to help your fellow man? December isn't the time to do it
techLuke Blackall reports on precision engineered prams and babygros that monitor your child 24-7
Nelson Mandela memorial: ‘Bogus’ interpreter made mockery of Barack Obama’s tribute in Soweto
David Cameron explains selfie with Obama and Helle Thorning-Schmidt at Mandela Memorial
French café starts charging extra to rude customers
Krokodil in Mexico? Teenager hospitalised after 'injecting drug into her genitals'
Australia incest case: Filthy and severely deformed children found in remote farming community after generations of inbreeding
- 1 Nelson Mandela memorial: ‘Bogus’ interpreter made mockery of Barack Obama’s tribute in Soweto
- 2 John McAfee's $100 'anti-NSA' device: 'this is coming and cannot be stopped'
- 3 French café starts charging extra to rude customers
- 4 Is Facebook making us forget? Study shows that taking pictures ruin memories
- 5 Australia incest case: Filthy and severely deformed children found in remote farming community after generations of inbreeding
iJobs Money & Business
£77099.84 - £96375.26 per annum + Bonus + Benefits : Harrington Starr: My clie...
£45000 - £60000 per annum + Bonus and Package: Harrington Starr: Trading appli...
£50000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: A leading prov...
£70000 - £90000 per annum + BONUS + BENEFITS: Harrington Starr: A leading mark...