Bluesq.com opens book on who’ll buy the Herald
Online betting website Bluesq.com has opened a book on which publishing or investment group will snap up SMG’s newspaper and publishing interests.
As it stands at the moment, bluesq.com has Gannett, the owners of Newsquest, as odds on favourite at 4/1 to buy the titles, but close behind are investment groups Candover and 3i at 5/1.
The book was opened as soon as the sale was announced because Bluesq.com belives there will be vast interest in the deal. Ed Pownall, a spokesman for the betting website, says that they have already received a steady flow of bets with “quite a few” £100 bets being placed on the favourite, Gannett.
He said: “Personally, I think that Candover is a very good bet as they certainly have the regional experience to take over the newspapers. Johnston Press have got local titles, but they have recently taken over RIM so you have to wonder whether their money is already spent. The other one is Guardian Media Group, but few people have backed them yet.”
The latest odds for other groups were Cinven at 6/1, the Daily Mail & General Trust at 6/1, The Scotsman Publications at 7/1, Johnston Press at 8/1, KKR at 16/1, Trinity Mirror at 10/1, Independent News & Media at 12/1, Guardian Media Group at 12/1, Archant (Eastern Counties) at 25/1, DC Thomson at 25/1 and Midland News Association at 25/1.
Pownall said: “In cases like these people normally back the favourites, so Gannett, Candover and 3i are our only losers at the moment. I am not scared at the moment as we are getting a real spread of bets and there are new names coming forward every day. The thing for us to watch for is if anyone opens up a new account and puts a sizeable bet on. When that happens we have to ask ourselves whether they know something most people don’t.”