Irish Times confirms purchase of 'Examiner' on the cards
The Irish Times DAC - the company that publishes 'The Irish Times' - has confirmed their interest in buying the 'Irish Examiner' newspaper.
Speaking after publication of their annual results, managing director Liam Kavanagh confirmed for the first time the Irish Times is looking at buying the Cork-based title.
When pressed on continued speculation about a possible buy-out of the title, Mr Kavanagh replied: "There is a lot of water to flow under that bridge yet".
His comments were carried on 'The Irish Times' website last night.
The report said he declined to comment on anything else regarding the 'Irish Examiner', noting its current owners Landmark Media were printing customers of Irish Times DAC.
When questioned as to whether the company would look at purchasing the 'Sunday Business Post', which is up for sale. Mr Kavanagh replied he was "sure we will have a look."
"There needs to be consolidation in the newspaper sector and we are interested in playing our part in that. Outside of Independent News & Media, nobody is generating much profit and that isn't good for the industry," he said.
ABC circulation figures for the first six months of this year show average daily sales of 28,338 for the 'Irish Examiner', and 62,423 for 'The Irish Times.' The Irish Independent sells 94,502.