INM, Daily Mail to merge rival Dublin newspapers
Independent News & Media and Daily Mail and General Trust Plc will merge their free morning newspapers to ensure the publications survive amid "difficult market conditions."
The tie-up of Metro Ireland, which is jointly owned by Daily Mail and the Irish Times, and Independent News’s Herald AM will lead to the creation of the Metro Herald, London-based Daily Mail said in a PR Newswire statement today.
More than 70,000 copies of the Metro Herald will be distributed every day in the Greater Dublin area, according to the statement. Each shareholder will own a third of the merged business. The two free newspapers have been in competition with each other since their launch in 2005.
The tie-up “ensures that despite the difficult market conditions, Dublin commuters will continue to enjoy a free daily newspaper and advertisers will benefit from access to a young, urban audience,” Steve Auckland, chairman of Metro Ireland, said in the statement.
The merger is subject to competition authority approval.