Publication of 'Tribune' to cease during buyer search
Published 03/02/2011 | 05:00
THE 'SUNDAY Tribune' will not be published while it is in receivership, it was confirmed yesterday.
The 'Tribune' went into receivership on Tuesday, throwing the future of the weekly paper into doubt and putting 43 jobs at risk.
Independent News & Media (INM), which owns 29.9pc of Tribune Newspapers, appointed a receiver at the request of Tribune Newspapers.
In a statement released yesterday, the paper announced it would not publish for the length of the receivership, expected to be four weeks, while a buyer for the title is sought.
"It has been decided that publication of the newspaper together with its online edition will be deferred during the sale process.
"February salaries are being paid to ensure that the [newspaper's] team of quality journalists, advertising and administrative staff are retained," it said.
The receiver, Jim Luby of McStay Luby, said the 'Tribune' would now be advertised nationally and internationally.
"It will be an advertising blitz," he said.
Editor Noirin Hegarty said she was "hopeful" a buyer would be found.
Founded in 1982, the 'Tribune' has found itself squeezed by a crowded Sunday market -- where there are 17 titles -- that has already claimed the 'Irish Daily Star Sunday' this year.
INM has invested in the newspaper since 1992, but the paper has never made a profit in that time.