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UK: OFT signs off on mega newspaper joint venture

 |  June 28, 2013

The Office of Fair Trading has cleared the way for a joint venture that will bring together a group of regional and local newspaper businesses. The venture, named Local World, will include more than 180 publications and 60 websites and is the result of a cooperation between Daily Mail & General Holdings, Yattendon Group and Trinity Mirror, among other investors. The papers were all previously owned by the three media conglomerates. Affording to reports, the OFT paid particular attention to overlapping markets in its investigation, ultimately ruling that competition would not be significantly hampered.

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