The company that owns Belfast Telegraph and other newspapers has been sold to Belgian newspaper group Mediahuis for €145.6m (£125.2m).Belfast Telegraph is among a range of publications currently owned by Dublin-based media group Independent News and Media, which includes Irish national newspapers as well as regional papers across the island of Ireland. The group also owns a number of online media platforms, including PropertyNews, NIjobfinder, and Independent.ie, as well as printing and distribution organisations.
The Independent News and Media board has unanimously approved sale of the company to Belgium-based group Mediahaus for €145.6m (£125.2m). The deal will be put to shareholders at an emergency general meeting and is expected to proceed pending shareholder approval.
Independent News and Media chairman Murdoch MacLennan revealed that the group didn't put the company up for sale but was actually approached by Mediahaus with a cash buyout offer. He believes that Mediahaus is committed to maintaining the editorial independence that papers such as the Belfast Telegraph currently enjoy.
Mediahaus chief executive Gert Ysebaert said "We believe that there is a clear rationale for the acquisition and that INM will thrive under Mediahuis' ownership. Furthermore, Mediahuis can contribute the relevant experience, skills and resources to invest in INM's brands and significantly enhance its operational and digital capabilities."
Source: BBC News, Belfast Telegraph
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