Scottish group pays €30m for paper

THE MEATH CHRONICLE is to be sold for more than €30m to Scottish newspaper group Dunfermline Press and another significant media asset sale is expected to be completed before the new year.

Merrion Corporate Finance acted for the Chronicle, and Merrion director Cathal Friel says the deal represents the further consolidation of the Irish media industry.

“The first phase of this consolidation was led by non-Irish companies, such as Scottish Radio Holdings (SRH) in Scotland, UTV in Belfast and others buying media assets in the Republic of Ireland. We will see the arrival of American media players investing in Irish media assets,” added Mr Friel.