NY-based Irish Echo attracts investment

The New York-based Irish Echo newspaper has secured new investment from a group of investors led by businessman and former GAA President Peter Quinn.

The investment consortium is comprised of Irish American and Irish business people. Mr Quinn is also chairman of TG4.

Seán Finlay, who purchased the paper in 2002, retains a significant stake in the newspaper and will remain on the Irish Echo's board.

Newspaper and internet publisher Belfast Media Group is taking a minority stake in the consortium.

Peter Quinn said: "Today, the relationship between the United States and Ireland is stronger than ever. As well as the deep family and cultural ties that bind the two nations, there are many new and vibrant business relationships developing."

The Irish Echo was founded in 1928 in New York and has been published every week since. Its circulation is 20,000.