Fri, 21 Sep 2018

Irish Times completes takeover of Irish Examiner assets

By Sheetal Sukhija, Ireland News
12 Jul 2018, 05:35 GMT+10

CORK, Ireland - In what was dubbed “the end of an era,” the Irish Times completed its takeover of the Cork-based Landmark Media Group.

As part of the deal, Irish Times now has complete ownership of titles including the Irish Examiner and the Cork Evening Echo.

Addressing staff on Wednesday, outgoing Landmark CEO Tom Murphy called the sale “the end of an era.”

However, Murphy reportedly told staff that he was delighted the sale had gone through.

Murphy said, “On the one hand, I’m delighted this sale has gone through because consolidation in the industry is necessary to enable it to compete and we believe that this is the best way to preserve these newspaper brands and the related jobs. On the other hand, it’s the end of an era as the last strand of the Crosbie family exit the business completely.”

He added, “We believe this deal will be very good for our brands and our people and that it will also be good for The Irish Times and for the industry as a whole.”

Meanwhile, in its statement to staff, the Irish Times said that it “looks forward to working closely with all staff in the combined companies in building a successful media group.”

In the statement, the Irish Times said that its objective was to create a “dynamic and vibrant business” that could “sustain itself for the longer term.”

Further, reports pointed out that with the sale, the involvement of the Crosbie family’s ownership of the Examiner, which dates back to 1872, came to an end.

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