The deal is expected to be completed before the end of 2017.
Having explored the possibility of acquiring the Irish Examiner earlier this year, but deciding not to proceed with negotiating talks at the time, The Irish Times are now progressing with plans to buy the Cork-based newspaper.
According to The Sunday Times, sources have confirmed that the buy out has pretty much already been agreed upon in principal, but that final details such as staffing and costs were still being finalised.
Additionally, the final deal with be subject to approval by the Competition and Consumer Protection Commission.
The Irish Examiner had also potentially been optioned to Sunday Business Post’s parent company Key Capital, as well as the Independent News & Media company, but the fact that The Irish Times already owned the contract to print the Irish Examiner is believed to have given them the edge in the acquisition.
It is believed that there will be very little cross over effect of the two papers working under the one umbrella company, as The Irish Times maintains most of its sales in Dublin, while the Irish Examiner’s demographic is found primarily in the Munster region.
