Competition regulators plan a full investigation of regional newspaper group Formpress Publishing’s bid for Donegal title, The Inishowen Independent, a statement confirmed on Friday.
Formpress, owner of around 20 papers, including the Donegal Democrat, Donegal Post, Leitrim Observer and Mayo News, bid for D&D Media, owner of the Buncrana-based Inishowen Independent and the Inishowenindo.ie website in the spring.
The Competition and Consumer Protection Commission (CCPC) said on Friday that it planned a phase a full investigation of the deal, following an initial phase one inquiry begun after the parties told it of the transaction in April.
A phase two inquiry is a more detailed examination of a planned merger or acquisition that follows an initial probe begun after a deal has been notified to the regulator.
The commission noted that it could not comment any further as the investigation was ongoing.
The CCPC investigates all media deals to ensure that they will not substantially reduce commercial competition in their relevant markets.
Such transactions also need approval from the Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media, Catherine Martin, to ensure media ownership in the Republic does not become too concentrated.
The CCPC sought further information from the parties on the Formpress-D&D deal in June. It received that in July and this week determined that it should go to a phase two investigation.
The commission is seeking submissions from interested parties by 4:30pm on August 28th.
Formpress is part of Iconic Media group, one of Ireland’s biggest regional publishers. Other titles it owns include Derry News, Dundalk Democrat, Kilkenny People, Leinster Leader and Midland Tribune.
Its digital business owns Ireland Live website along with a series of regional news websites that also use the “Live” moniker. The group has operations across the island of Ireland with a presence in all four provinces.
Launched in 2007, the Inishowen Independent’s print edition is published every Tuesday. It is one of several regional papers in the area.
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