Seven hats in ring to take over the Sligo Champion
More than seven parties lodged bids for the Sligo Champion newspaper ahead of last night's first round deadline, the Irish Independent has learned.
The regional newspaper came onto the market about two weeks ago. Owners, the Townsend brothers, are hoping to fetch upwards of €20m for their title.
It is understood that indicative bids were received from more than seven quarters yesterday, with final bids due next Tuesday.
Previous reports linked Independent News & Media, the Irish Times, Johnston Press and John Taylor's Alpha Newspapers to bidding process, along with Domhnal Slattery's Claret Capital and Niall McFadden's Boundary Capital, as well as UK media groups who are new to the Irish scene.
The sell off includes the Champion's newspaper business and a printing press business, which boasted total profits of €2m last year on a €4m turnover.
The new owner, however, is expected to discontinue the printing business in favour of leasing space on a printer that produces other titles.
Established in 1836, and now with a circulation close to 13,000, the Champion is one of the last regional newspapers to remain in family ownership.
Accordingly, media owners throughout the country are watching the sale with interest to see what values the price might suggest for their own newspapers.
- Laura Noonan
