Celtic Media not to proceed with newspaper sale to INM

Celtic Media Newspapers Limited, publishers of The Anglo-Celt, and Independent News & Media have agreed by mutual consent to terminate the transaction for the acquisition of Celtic Media Newspapers Limited by INM.
The transaction was approved by the Competition and Consumer Protection Commission on November 10, 2016, and was then subject to a Phase 2 review by the Broadcasting Authority of Ireland, with a Ministerial decision due this week.
However, following discussions, Celtic Media Newspapers Limited and INM have taken a view to move forward on a separate footing.

The Minister for Communications, Climate Action and Environment, Denis Naughten, TD, has been informed of the decision.
The proposed transaction was confined to the newspapers owned by Celtic Media Newspapers Limited and not to the print company owned by Celtic Media Group.
Celtic owns some of the leading titles in the industry including The Anglo-Celt; Meath Chronicle; Westmeath Examiner; Westmeath Independent; Connaught Telegraph and Offaly Independent.
It provides a combination of graphic design; digital consultancy and printing for a range of titles such as Dublin People Group; Tuam Herald; Nenagh Guardian; Cork Independent; Galway Independent; Southern Star; Mayo News and Sligo Weekender.
Its national print clients, serviced from its Navan print centre, include Trinity Mirror Group and The Racing Post.