Mr Scardino's consortium is backed by Mercury Development Capital and Electra, the investment trust. Mr Scardino, whose wife Marjorie is the new chief executive of the Pearson media group, will hold a minority stake. It is understood that the group hopes to seek a stock market listing "when appropriate".
The move means there are two definite bids for Forest on the table. The Nigel Wray-Phil Soar offer, worth around pounds 17m, will be voted on by shareholders at a meeting on 24 February. Both bids could now be discussed at the same meeting.
It seemed yesterday that the video entrepreneur Grant Bovey had not made a formal bid. He was being backed by Lawrie Lewis, the Blenheim Exhibitions founder.
The Nottinghamshire consortium fronted by Sandy Anderson did not re-enter the fray.