Up to 100 jobs at risk after INM pulls out of Celtic Media bid

Up to 100 jobs at risk after INM pulls out of Celtic Media bid
Consolidation is the name of the game in the media and marketing world

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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