Norah Casey to sell bulk of Irish magazines empire to US investor
Norah Casey is to sell the bulk of her Irish magazines empire to a US digital media investor.
The high profile business woman has agreed a deal that will see New York based businessman Liam Lynch’s Irish Studio acquire Irish Tatler, Irish Tatler Man, U Magazine, FOOD&WINE Magazine, Auto Ireland and Ireland of the Welcomes from Norah Casey’s Harmonia.
Last year Irish Studio paid €2.7m to buy Irish Central.com, an online publisher aimed at the US market.
Liam Lynch’s previous ventures include building Broadway.com, a popular theatre information and ticket website and he has managed, acquired, started, or invested in over 25 private companies and mentored countless others.
Norah Casey will retain a role as chairwoman emeritus following the sale, and in addition will continue to own and manage Harmonia’s remaining brands, which include Woman’s Way, and Planet Women in her own right.
Ciaran Casey will join Irish Studio in an executive role to roll out the new strategy for the six magazines.
Commenting on the deal, Norah Casey said: “I’m looking forward to working closely with Liam and his team. This is an exciting development ensuring these iconic brands are moving to a company that will develop their digital presence and global reach.”
Mr Lynch described the deal as “a major acquisition that realizes our strategy of rolling up established brands onto our digital platform. These six brands, including Irish Tatler, are trusted brands that people love. We will continue to loyally service our treasured print readers while also bringing these titles online to engage and entertain new audiences.”