Reach, the British newspaper publisher formerly known as Trinity Mirror, has agreed to buy for an undisclosed sum the 50 per cent stake in Irish Daily Star publisher Independent Star that it does not already own. The company is purchasing the stake from Independent News & Media (INM), with the deal expected to be completed later this year, subject to it receiving competition approval. The group acquired the initial stake from Richard Desmond’s Northern & Shell as part of a wider £127 million (€144 million) acquisition of the Express and Star newspapers and OK! In the Irish market, Reach publishes the Irish Daily Mirror, the Sunday Mirror and the Sunday People, while it also owns RSVP magazine and the websites dublinlive.ie and rsvplive.ie. Marc Vangeel, chief executive of INM, said the offer from Reach, if approved, would “ensure the newspaper has a bright future”.

Source: The Irish Times July 23, 2020 13:41 UTC