SBP to look for examinership after the rest of the group bail into a financial lifeboat…
Whatever this is, it is almost certainly not good news for what has been one of the highest quality titles in the Irish newspaper market:
The Sunday Business Post is to seek approval to enter examinership in the High Court today.
The move comes after the Irish Examiner and a range of related titles and radio stations changed hands yesterday after the execution of a so-called pre-pack receivership process involving its parent company, Thomas Crosbie Holdings Ltd.
The Sunday Business Post was the group’s only major title not to form part of the deal. Examinership would give the newspaper protection from its creditors for up to 100 days.
In a unique arrangement, a new entity called Landmark Media Investments Ltd, owned by Tom Crosbie and his father Ted, has acquired the Irish Examiner, the Evening Echo and five regional titles. The group is based in Cork.
On the face of it, it looks like a move to protect the Examiner newspaper, and tying the Business Post to stuff that’s been weighing the whole group down.
We can only hope for the best outcome for a dedicated outfit who do a remarkable job in turning out a great product week after
Topic: Economy, Society and Culture
Region: Ireland
