Canada's Competition Bureau will not challenge Postmedia's takeover of 175 Sun Media publications, including the London Free Press.
The deal is worth upwards of $316-million and includes the Canoe web portal, part of the national sales team and 34 properties across the country. The London Free Press building is located in the city's downtown core, at York St. and Waterloo St.
Other newspapers in the region that are changing ownership include the Chatham Daily News, the Sarnia Observer, the Woodstock Sentinel Review and the Brantford Expositor
The bureau says the merger will not impact the competition from free local daily newspapers and the "increasing competitive pressures from digital alternatives in an evolving media marketplace."
Postmedia reportedly expects to find $6-million to $10-million in cost savings per year within two years.
In a report published online, the bureau writes "Postmedia made a persuasive submissions to the bureau suggesting that the proposed transaction is likely to bring about meaningful gains in efficiency."
There is no word on any job losses or consolidations as of yet.
