Accumulated profits at the Connacht Tribune media group last year declined by €234,447, new figures show.

The company that operates the Connacht Tribune Media Group slipped into the red last year to record a loss of almost €250,000.

A €2.65 million dividend from the company that operates Galway Bay FM helped the Connacht Tribune media group return to profit last year.

The Connacht Tribune newspaper is to acquire the remaining interest in Galway Bay FM, increasing its shareholding from 27% to 100%.