Up to 100 jobs at risk after INM pulls out of Celtic Media bid
In a joint statement both companies confirm cancelling the acquisition “by mutual consent”
Up to 100 jobs are at risk at the Celtic Media group of regional newspapers, after a €4 million takeover bid by Independent News and Media was pulled.
Denis Naughten, the Minister for Communications, was due to make a decision by Tuesday on whether the proposed acquisition, which was subject to media merger legislation, should go ahead.
In a joint statement yesterday, both companies confirmed that they had agreed to cancel the acquisition “by mutual consent”.
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