Scottish Radio Holdings’ (SRH) Score Press has sold the Title Media division and its subsidiary Ireland on Sunday Ltd, which publishes the Ireland on Sunday newspaper, to Associated Newspapers for £7.4 million cash, the company announced this morning.
SRH, which has built up a portfolio of 41 local weekly titles over the last six years, acquired the
Ireland On Sunday in June last year for £6 million. The paper then underwent a re-launch in January 2001.
Ireland on Sunday circulates throughout the Republic of Ireland and also has some sales in Northern Ireland. During the six months to June 2001 it achieved average weekly sales of 53,053 and incurred operating losses of £0.5 million for the six months to 31 March 2001.
The sale allows SRH to focus on the development of its portfolio of local weekly newspapers. Associated Newspapers publishes the Daily Mail and Mail on Sunday in the UK. The sale has received the approval of the Irish Minister for Enterprise, Trade and Employment.
