Limerick Leader sold for €23m

THE Leinster Leader newspaper group will double in size after completing the purchase of the Limerick Leader for close to €23 million.

Yesterday’s deal ends the stewardship of the Limerick Leader by descendants of Jeremiah Buckley who founded the newspaper in 1889.

The Leinster Leader Limited, the expanding Naas-based provincial newspaper group, which also publishes the Leinster Express, the Offaly Express and the Dundalk Democrat, reached final agreement to acquire the Limerick Leader group of newspapers late on Tuesday night.

Staff were officially told of the sale on the company, which comprises the Limerick Leader and Limerick Chronicle newspapers, just before the Limerick Leader’s county edition went to press yesterday afternoon.

Limerick Leader general manager Joe Gleeson and editor Brendan Halligan are remaining at the helm of the company.

Mr Gleeson said yesterday all 83 jobs at the company were secure, adding they hope to expand the ability of its Limerick plant to print more newspapers on a contract basis.

Chairman of the Leinster Leader John McStay, said: “We are delighted to have this opportunity to link with the Limerick Leader.

Our objective, as we have said before, is to build a strong group of newspapers, each with a leading position in its own community. The Leader and Chronicle fulfil that requirement.

“We are committed to further investment as the way forward for all of our newspapers.

“The Limerick Leader has a proud tradition and we hope to build on that and use our resources to strengthen the newspaper in certain areas.”

Mr McStay said it is planned to invest in developing printing facilities in Limerick.

He also disclosed the newly enlarged group is open to expanding further by either merge or acquisition of existing regional newspaper companies.

The takeover is subject to the approval of the Minister for Enterprise, Trade and Employment Mary Harney under the legislation governing the ownership of newspapers.