Business Post Media Group (BPMG), the publisher of the Sunday Business Post newspaper, has closed a deal to buy a portfolio of magazine titles including Irish Tatler, Food & Wine and Auto Ireland, from US-Irish investors in an all-share transaction.
Irish Studio, which bought the titles from Norah Casey's Harmonia group in 2017, will take an undisclosed minority stake in BPMG in exchange for the magazines. Irish Studio, which is fronted by New York-based investor Liam Lynch, will also take up a seat on the newspaper publisher's board as part of the deal.
The acquisition, first flagged by The Irish Times two months ago, is the latest in a string of buyouts completed by BPMG since Kilcullen Kapital Partners, run by businessman Enda O’Coineen, took control of the newspaper last year.
It previously bought iQuest Events and Hospitality Expo and also took equity stakes in Northern Ireland genealogy business DigitalDNA, online diaspora network Tribe101, and Speakers Bureau.
“Our goal is to build out a broadly based media, events and services business anchored around the Sunday Business Post,” said Mr O’Coineen.
“We have further exciting plans in the weeks and months ahead and we are delighted with the progress the business has made to date.”
Mr Lynch said BPMG has the “ambition and capability” to digitally grow the magazine titles. Irish Studio will continue to publish the Irish-US diaspora-focused title Irish Central, Ireland of the Welcomes and British Heritage Travel.
