Sunday 19 August 2018

INM interested in buying 'Sunday Business Post'

'INM - which publishes this newspaper and several others - would be likely to face competition challenges, however.' (stock photo)
'INM - which publishes this newspaper and several others - would be likely to face competition challenges, however.' (stock photo)
Samantha McCaughren

Samantha McCaughren

Independent News & Media (INM) is interested in acquiring the Sunday Business Post, which is for sale.

Michael Doorly, the new chief executive of INM, said that the media group had made contact with the shareholders of Sunrise Media, a holding company for the Post and a Cork printing business, Webprint. Sunrise Media is owned by Key Capital and Donagh O'Doherty.

"We believe in print," said Doorly. "INM is interested in protecting or saving titles and jobs in so far as we can and therefore we are interested in expanding our portfolio, be it in print or online.

"The Sunday Business Post is something we would be interested in acquiring. Not only would it give us a decent print product, but it would also give us a decent online offering which we could develop," he said.

INM - which publishes this newspaper and several others - would be likely to face competition challenges, however. Earlier this year it walked away from a deal to buy Celtic Media Group over conditions imposed by regulators.

"We want to enter the process. We know there will be some hurdles to overcome, but we are willing to discuss those and try and work through it," said Doorly.

He added that INM may also be interested in Landmark Media, owner of the Examiner, which has been in takeover talks with the The Irish Times.

Sunday Indo Business

Business Newsletter

Read the leading stories from the world of Business.

Also in Business