Independent News and Media says it has dropped plans to buy Newstalk

Independent News and Media has said it has dropped plans to buy Newstalk.

The newspaper group said it is no longer interested in buying the station, which had been subject to takeover speculation.

The station is already majority-owned by businessman Denis O'Brien, who is also the biggest shareholder at INM.

The newspaper group's chief executive Robert Pitt has told an Oireachtas committee the plans have been dropped.

Mr Pitt said: “Our strategy is very focused on digital development. There was an opportunity to look at the radio station. That opportunity was brought to us and we looked at it and we have now decided not to go any further on that opportunity.”


More in this Section

Patisserie Valerie reportedly had £10m in secret overdrafts

Drug support firm Malin on fresh hunt for new CEO

Women urged to inspire in business

Avoca expansion helps to double Aramark profits


Breaking Stories

1 year since Alyssa Milano’s first #MeToo tweet: Have things actually changed for women?

What to wear to a job interview according to a style expert

Online Lives: Megan Kessie - 'Writing my blog became an escape'

Appliance of Science Are all raindrops the same size and shape?

More From The Irish Examiner