Chelsea FC owner withdraws Scotsman interest – Daily Business

Chelsea FC owner Todd Boehly’s investment vehicle has confirmed that it will not pursue its interest in newspaper group National World, owner of The Scotsman, The Falkirk Herald and other local papers around the UK.

Mr Boehly’s Eldridge Media Holdings (EMH), which had indicated it may gatecrash an agreed deal with Irish group Media Concierge, told the stock market ahed of a Takeover Panel deadline that it was withdrawing from the process.

“EMH confirms that, following careful consideration, it does not intend to make an offer for National World,” the group said in its filing.

Media Concierge, a major shareholder in National World, is now expected to complete the acquisition at a rescheduled court hearing next week.

Shareholders in National World, led by former Mirror Group executive David Montgomery, had already recommended the takeover.