Emap to link up with Johnston Press in battle for SRH

by Joe Lepper, Brand Republic 02-Jun-05, 11:00

LONDON - Emap could be set to link up with newspaper group Johnston Press as it attempts to take over Scottish Radio Holdings in a move that would see the the radio group broken up.

Johnston Press, which owns hundreds of regional newspapers including the Yorkshire Post, has confirmed that if Emap's takeover bid is successful it would be interested in buying up SRH's regional newspaper portfolio, mainly comprising small circulation titles in Scotland, Northern Ireland and Ireland.

A spokeswoman for Johnston Press said: "Johnston Press would look at the Scottish Radio Holdings' newspapers with significant interest if the Emap bid is successful. Johnston is a regional newspaper firm and it is only natural we would be interested."

However, she denied the interest was part of a formal link-up with Emap or that deal had been discussed by the two firms.

SRH owns newspapers that include the Coleraine Times, Tipperary Star, the Nationalist, Mid-Ulster Mail, Portadown Times, Galloway Gazette, Stornoway Times and The Hebridean.

This latest development follows the SRH board's rejection of a 1040p-a-share offer from Emap yesterday.

Emap, which already has a 27% stake in SRH, appears to be in no mood to walk away from SRH and has suggested that its bid could turn hostile.

"The board of Emap will continue to review the situation and in the meantime reserves the right to make an offer below the 1040p should a recommendation by the board of SRH for an offer at 1040p not be forthcoming," Emap said.

Emap also noted the share price had not reached 1040p since June 2001.

SRH expanded into the regional newspaper sector in 1995 with the purchase of Northern Ireland weekly publisher Morton Newspapers. Other titles owned by SRH include the Kilkenny People and Tipperary Star.

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