The purchase has received the necessary regulatory approval from Irish Tanaiste Mary Harney, the minister responsible for Enterprise, Trade and Employment and marks the first major investment by Associated Newspapers in the Irish national newspaper market. It will safeguard the future of Ireland on Sunday as an Irish title edited and printed in the Republic.
Associated Newspapers are publishers of the Daily Mail, Mail on Sunday, Evening Standard and Metro. A spokesman for Associated Newspapers said that the acquisition of Ireland on Sunday represents the ideal opportunity to enter one of the most dynamic media markets in Europe.
Ireland on Sunday circulates throughout the Republic of Ireland and has some sales also in Northern Ireland. It is published in Dublin and has approximately forty staff. During the six months to December 2000 it achieved average weekly sales of 57,000. Financially, Ireland on Sunday incurred operating losses of £0.5 million for the six months to 31 March, 2001.
SOURCE: COMPANY PRESS RELEASE
