Unconditional clearance of joint venture between two major UK media companies

On 21 March 2024, the Competition and Markets Authority (CMA) unconditionally cleared at Phase I a joint venture (JV) in newspaper printing between DMGH and News UK, two of the largest media companies in the UK.  The JV involves the consolidation of some of the Parties’ printing assets in Great Britain. 

The CMA examined horizontal concerns in relation to the supply of third-party printing in both the North and South of England. 

The CMA unconditionally cleared the transaction, concluding that the Parties are not particularly close competitors in either region and, under the appropriate counterfactual, would not overlap in the North of England absent the JV.  As part of its findings, the CMA placed substantial weight on RBB’s bidding and spare capacity analyses with regards to closeness of competition and the choice available to customers post-transaction. 

RBB’s team, led by Adrian MajumdarAdrian MajumdarManaging Partner and Paul HutchinsonPaul HutchinsonPartner, supported by Alex CraigAlex CraigSenior Associate, Calum Young, Jack ThomasJack ThomasSenior Associate and George SnaithGeorge SnaithSenior Associate, advised the Parties alongside Slaughter and May and Allen & Overy.