THE IRISH TIMES has completed its takeover of the Cork-based Landmark Media Group, giving it ownership of titles such as the Irish Examiner and the Cork Evening Echo.
In a statement today to staff, outgoing Landmark CEO Tom Murphy said the sale signalled “the end of an era”, but added he was delighted the sale had gone through.
The Irish Times, meanwhile, said in a statement today to staff that it “looks forward to working closely with all staff in the combined companies in building a successful media group”.
It said its objective was to create a “dynamic and vibrant business” that could “sustain itself for the longer term”.
The sale brings to an end the involvement of the Crosbie family’s ownership of the Examiner, which dates back to 1872.
Murphy said: “On the one hand, I’m delighted this sale has gone through because consolidation in the industry is necessary to enable it to compete and we believe that this is the best way to preserve these newspaper brands and the related jobs. On the other hand, it’s the end of an era as the last strand of the Crosbie family exit the business completely.
We believe this deal will be very good for our brands and our people and that it will also be good for The Irish Times and for the industry as a whole.
Sinn Féin TD Donnchadh Ó Laoghaire said that the titles had “served Cork very well”, while Fine Gael Senator Jerry Buttimer said that the Crosbie family “have served the people [of] Cork with distinction”.
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