Metro Branches Out With Irish Edition
Associated Newspapers and Metro International today confirmed the creation of an Irish edition of Metro, the free morning newspaper, to be published in partnership with The Irish Times Limited.
The newspaper will be launched today in Dublin, with Metro International initially owning 10%, while Associated commands 90% of the new venture’s share capital.
Pending clearance from competition authorities, the two companies intend to form a joint venture in which Metro International has the option to increase ownership up to 33.3%, with Associated and The Irish Times holding the remainder in equal parts. The newspaper will also be printed by The Irish Times.
Commenting on the new launch, Pelle Tornberg, CEO of Metro International said: “Dublin is one of Europe’s leading capitals. It is a dynamic and changing city. It is our belief that Metro will complement the busy lifestyles of Dubliners and will give advertisers an effective platform to reach a highly desirable demographic.
“This venture builds on our long-standing advertising partnership with Associated Newspaper’s Metro edition in the UK. The revenue from international advertising campaigns is growing strongly and this Irish venture will add to Metro International’s already unique international footprint.”
Dublin’s growing population presents an attractive market for the new Metro title, with the city’s 1.2 million residents in 2002 expected to have increases in number to 1.76 million by 2011. The city’s total advertising market in 2004 was estimated to be worth €1.37 billion, of which press accounted for €928 million or 68%.
Lee Thompson, managing director of Metro in Ireland welcomed the new title, stating: “This represents a new era for newspapers in this market. Dublin is a young, vibrant, and growing city, which matches the Metro brand perfectly. Metro-style newspapers are the fastest growing newspapers in the world and the Dublin edition of Metro will be the latest instalment in what has become a global publishing phenomenon.”
The Irish edition of Metro will be distributed free of charge each morning by hand and from racks at strategic locations throughout Dublin. The newspaper’s blend of local, national and international news will target a young, active, metropolitan readership.
Associated Newspapers: www.associatednewspapers.com Irish Times Limites: www.ireland.com Metro International: www.metro.lu