Metro Herald launches today as Dublin’s free weekday newspaper following the merger of Metro and Herald AM. The new title sees three partners – Associated Newspapers, The Irish Times and Independent News & Media – jointly investing in an Irish newspaper for the first time.
Each investor owns a one third stake in the holding company, Fortunegreen, with Metro International entirely forfeiting its previous ten per cent stake. Managing director Paul Crosbie said the aim is to produce a quality free morning newspaper that fits urban lifestyles.
Metro Herald launches with a new identity and design. The paper is distributed outside Dart stations, near major bus stops and at busy city centre points in Dublin from 7am to 9.30am, Monday to Friday.
As the Competition Authority stipulated in its ruling that the paper’s business affairs must be run separately to its investors, an ‘independent’ chairman has been appointed by the board of Fortunegreen.
Peter Webster has joined Fortunegreen as non-executive chairman. He is an ex-chairman and chief executive officer of Smurfit in the UK and Ireland.
