Sunday Business has learnt that, following a week of turbulence and financial doubt, its future is secure for the present at least. An undisclosed consortium of investors is now taking control of the 75% stake formally controlled by the papers major stake holder Group 2000, which has now passed into receivership. The Mirror Group who were rumoured to be ready to pitch a bid for the share pulled out at midnight on Thursday.
Although no formal announcement has yet been made, the paper’s editor David Rydell confirmed to Newsline this afternoon that a group of investers had bought the share, and intended to invest at least £2 million in the paper. This will come as a relief to the 60 full-time and freelance staff at the paper, Rydell said he was “delighted” with the result.
Sunday Business: 0171 468 6000
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