The publisher of the Irish Mirror will be the new owner of the Irish Daily Star newspaper and websites after it was cleared by the Minister for Media Catherine Martin. Reach had a half share in the tabloid in a joint venture with Independent News and Media (INM) as part of the publisher’s acquisition of Northern & Shell in 2018.
Earlier this year a deal was agreed between the two parties to buy the remaining 50 per cent from INM, subject to regulatory approval from both the Competition & Consumer Protection Commission (CCPC) and Government, which has now been granted. The acquisition extends Reach’s portfolio that includes the NI and Irish Mirror editions.
It also covers the Sunday People newspaper, RSVP magazine and five news sites that reached a record total online audience of 23.5 million users last month. When it was announced in July that Reach would buy INM’s stake to give it full ownership of the tabloid, Reach’s chief executive Jim Mullen said “it is a natural next step” for the publisher.
Marc Vangeel, CEO, INM, welcomed the successful conclusion of the regulatory process. “We’re pleased that the parties can now move forward towards completion,” Vangeel said. “We’ll work with Reach to ensure a smooth transition and we are confident that the Irish Daily Star has a bright future ahead within the Reach portfolio.”
The Irish Daily Star will continue to trade through Independent Star, part of Reach plc.