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

CAREERS 2019: Cyber Ireland aims to harness huge opportunity in global digital security

Careers 2019: You get knocked down and you get up again, says Bernard Dunne

Careers 2019: HC21 is expanding in overseas markets and it all started with a spontaneous decision

Oil jumps above $60


On the red carpet: Margot Robbie, Saoirse Ronan, Diane Kruger and Cheryl

Raise a glass to Christmas festivities

The best festive desserts to try out this Christmas

Louise O'Neill: It’s important that we’re aware of the historical context of the backlash against feminism

More From The Irish Examiner