Irish Times to purchase Irish Examiner
In a joint statement, The Irish Times and Landmark Media, the publishing group behind The Irish Examiner and a host of regional titles, have announced a deal that will see the Times acquire all of the group's publishing interests.
6 December 2017 | 0
A share purchase agreement between the Irish Times DAC and Landmark Media, which owns the Irish Examiner, has been announced. The deal will see the Irish Times take control of the entire group and all its media interests.
The deal is subject to approval by the Competition and Consumer Protection Commission and the Broadcasting Authority, as well as the Minister for Communications. The deal is expected to take up to four months to complete.
In a joint statement released on Wednesday, the groups said that staff at Landmark Media were appraised of the situation after a difficult period of speculation, “much of it uninformed.”
The LMI Group CEO, Tom Murphy, will depart his role as part of the deal.
Liam Kavanagh, managing director of The Irish Times DAC said the opportunity to acquire Landmark Media is an “important strategic decision” for The Irish Times.
“It is the intention to retain the core identity and independence of the respective news publishing titles,” he said. “Each will retain their editorial integrity.
“The overall increase in audience allows the group to build a digital platform with a strong reach, countrywide and internationally,” Kavanagh added. “The consolidation also presents the opportunity to strengthen and grow existing print advertising revenues and helps to secure contract print revenues.”