Deutsche Bank and Schroder Salomon Smith Barney have helped UK publisher Johnston Press negotiate a takeover of UK rival Regional Independent Media (RIM), after more than a year of attempts to do so.

In 2000 Candover, the private equity firm that has majority ownership of RIM, refused to sell RIM to a consortium of which Johnston Press was a part, because it believed it would get less cash for RIM than it might with a competitive tender. The consortium comprised Johnston Press, UK-based Guardian Media Group and US media firm Gannett.