Indo to buy Sligo paper for €25m

INDEPENDENT News & Media has won the battle to buy the Sligo Champion in a deal believed to be worth close to €25 million.

There were believed to be up to half a dozen bidders in the running for the paper. Independent said yesterday the takeover was subject to due diligence, contract and regulatory approval. The Competition Authority is expected to pay close attention to the deal given Independent’s share of the newspaper market.

The weekly title, founded in 1836, has audited sales of 12,574.