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The deal, which was announced on Tuesday, combines the UK's fourth- and fifth-largest regional publishing groups, and consolidates Johnston's position as the fourth-largest by circulation.

RIM, which publishes The Yorkshire Post, England's sixth-largest regional morning paper, was the subject of an intense three-way takeover battle during the second half of 2000.

The US newspaper giant Gannet, Trinity Mirror and the Guardian Media Group all tried to acquire RIM but were unable to finalise a deal.

RIM planned a flotation last year, but its plans were hit by the economic downturn. With the regional advertising market holding up well despite the downturn among national titles, RIM's chief executive, Chris Oakley, insisted as recently as last week, that an independent RIM would float next year.

"This is a transforming acquisition for Johnston Press at a fair price," Johnston's chairman, Roger Parry, said. "RIM is an excellent fit with Johnston Press and significantly strengthens our position in the consolidating UK regional newspaper market."