Addleshaw Goddard and Norton Rose have grabbed headline roles on the sale of Guardian Media Group’s (GMG) regional media business to Trinity Mirror.
Addleshaws is fielding a 40-strong multijurisdictional team based in Manchester to advise longstanding client GMG, with corporate partners Roger Hart and Charles Penney leading the team. Also featuring are employment partners Malcolm Pike and Jamie Hamnett, real estate partner Peter Kershaw and asset finance partner Andrew Maskill.
Norton Rose advised Trinity Mirror on the £45m transaction, which will see a total of 32 titles in the North West and the South of England change ownership. Corporate finance partners Chris Pearson and Anthony Riley led the Norton Rose team.
IP partner Mike Knapper and asset finance partner Alistair MacRae were also involved for the City firm.
GMG is currently split into two businesses: MEN media, which owns the Manchester Evening News, and S&B Media.
Addleshaws’ Hart said: “As a firm with a long-established Manchester office, we’re particularly pleased to have advised on this flagship deal. Our involvement demonstrates the benefit of having top-quality legal advisers both on the doorstep and in the City - this structure has enabled us to develop real insight into the wide range of both local and national issues associated with a corporate sale such as this.”
The deal, which will cement Trinity Mirror’s place as the UK’s largest regional newspaper publisher, is expected to reach a close in the spring.
The agreement between the two media groups will also see the termination of GMG’s print contract with Trinity Mirror.