IT buys shares in Gazette

The Irish Times has bought a significant minority stake in newspaper company the Gazette Group, with the option to take full control over time.

17th February, 2007

The company has taken a 43.8 per cent stake in the group and said it would invest €2.5 million to fund further expansion. The Gazette Group was set up in 2003 by Liam Hayes, founder of Ireland on Sunday, and former advertising executive Michael McGovern. It publishes three weekly titles in Lucan, Blanchardstown and Clondalkin.

As part of the deal, The Irish Times can up its stake to 53.8 per cent in three years and 76 per...

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