Peter Quinn joins in €3m boost for Irish Echo
A GROUP of businessmen lead by former GAA president Peter Quinn have invested €3m in the Irish-American newspaper, the Irish Echo.
The buyout sees former owner Sean Finlay sell some of his stake but retain a minority shareholding and a directorship.
Speaking to the Irish Independent last night, Mr Quinn declined to put a figure on the investment. However, well-placed sources put it close to the €3m mark.
"We intend to be quite involved" (in the running of the paper), said Mr Quinn. He added the existing paper had "done very well" in building up the largest circulation of an Irish-American title (20,000), but the new owners would try to increase the title's geographic reach into the entire New England area.
Other plans include expanding the paper's online operations, Mr Quinn said.
The consortium's members include Mr Quinn and internet publisher Belfast Media Group.
Mr Quinn said the other investors wanted to remain unnamed at this stage.
He added the consortium would ultimately have five to ten investors; however, all the monies had not yet been committed.
- Laura Noonan
