European media group Mediahuis has agreed to buy Ireland’s largest newspaper group, Independent News & Media, for GBP 125.7 million in its first major deal outside Belgium and the Netherlands. Under the terms of the acquisition, INM shareholders will receive 10.5 cents (9p) per share.
INM publishes the Irish Independent, the Sunday Independent, the Sunday World, The Herald, the Belfast Telegraph and other regional newspapers, accounting for more than 50% of the daily market and over 65% of the Sunday market in the Republic of Ireland.
Privately-owned Mediahuis, which sells more than 1.4 million newspapers a day in The Netherlands and Belgium including the De Telegraaf and De Standaard titles, said it saw a big potential in improving the Irish company’s online business. Founded in 2013, Mediahuis has grown rapidly through acquisitions and has a track record of combining innovative journalism with digital subscription services and paywalls.
Mediahuis chairman Thomas Leysen said, “We have the resources and the capabilities to further the digital transformation and enhance the digital capabilities of INM. We think it’s a good match”.
Belgium, Antwerp & Ireland, Dublin
- Independent News & Media PLC – results for year ending 31 December 2012 Posted on April 26, 2013
- Independent News and Media to sell INM South Africa for R2billion Posted on February 20, 2013
- Independent News & Media PLC to explore “strategic options” for its South African operation Posted on July 18, 2012
- Independent News & Media’s 49% of Verivox sold to Oakley Capital Private Equity for €18.3M Posted on December 7, 2009
- Independent News & Media report operating profits of £75M Posted on March 23, 2012