Rules governing newstrade wholesalers could be relaxed following the findings of three Office of Fair Trading reports released today.

Releasing its long-awaited reports into the 1994 National Newspapers Code of Practice and the vertical agreements between wholesalers and publishers, the OFT said wholesalers should be "released from the undertakings underpinning the National Newspaper Code of Practice".

The watchdog also proposed not to refer the newspaper and magazine supply sector to the Competition Commission for further investigation.

"Being able to get newspapers and magazines where and when they want them, at keenly competitive prices, matters hugely to consumers," said OFT CEO John Fingleton.

"We are recommending a release from regulatory restrictions, while the industry should now take a close look at its own arrangements. We hope that once it has done this, our work in this important sector will enable competition to deliver even better outcomes."

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