'Ireland on Sunday' acquired by Associated Newspapers for €12m

Associated Newspapers has bought Ireland on Sunday for £9.4 million (€11.9 million) cash in a deal which marks the British group's first major investment in the Irish market. The company believes the newspaper has "immense potential" for development as a middle-market Irish Sunday tabloid. It is also looking for other opportunities in the Irish market.

The publisher of the Daily Mail and Mail on Sunday in the UK will consider the publication of an Irish edition of the Daily Mail.

Mr Martin Clarke, who has been appointed editor-in-chief of Associated Newspapers in Ireland, said Ireland on Sunday would not be turned into a "quasi Mail on Sunday" or an Irish edition of the Mail on Sunday. Associated Newspapers was going to do something new, he said. "We are going to produce an Irish middle market newspaper which has the resources of a UK newspaper."

Mr Clarke did not want to discuss what level of investment might be made, or the group's aspirations in relation to circulation. "Obviously we believe there is great potential." Associated Newspapers would take a long-term view of its investment, he said. Asked if the company was considering the publication of an Irish edition of the Daily Mail, Mr Clarke said the company was at the moment "purely focused on Ireland on Sunday" but would be looking at developing other opportunities in the Irish market. "Once we have made the success of Ireland on Sunday that we know it's going to be, we will look at other things. People will just have to wait and see."

Ireland on Sunday was bought from Scottish Radio Holdings, which bought the newspaper in June 2000 for £7.5 million. During the six months to June 2001, Ireland on Sunday had average sales of 53,053. In the six months to March 31st, 2001, it produced losses of £500,000. The paper has 40 staff.