Todd Boehly’s Eldridge Media Holdings has confirmed that it will not bid for National World plc.
In March, EMC confirmed that it was considering an offer for the entire National World group, despite shareholders approving a takeover by Media Concierge the month before.
However, today, EMH said that “following careful consideration, it does not intend to make an offer.”
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That means that for the moment, the offer from Neo Publishing – the newly incorporated company wholly owned by Media Concierge, is the only one on the table.
That was for £65.1m and in February 99% of shareholders voted in favour of the move.
As previously reported, while Media Concierge said that it didn’t plan to close down any of its news brands or make “material” job cuts, it would move the publisher’s head office from Leeds to London.
