So the rumours were true. Mairtin O Muilleoir’s Belfast Media Group (formerly the Andersonstown News Group) has bought a stake in the Irish Echo, with sources close to the deal quoting $4 million as the size of the investment. Peter Quinn, recently made chairman of TG4, is being pushed forward as the face of the consortium, which is hoped to have between 5 – 10 investors, but not everyone has committed their money yet, and some of those involved in the deal prefer, at this stage, to remain nameless. O Muilleoir gives it a low-key mention on his blog, where he also mentions being in New York for awhile.
By the way, if you are looking for a job, the Irish Echo is hiring…Publishing Ceo Wanted
Full-time PUBLISHING Irish Echo Group, publisher of IrishAmerica’s best-selling newspaper, seeks a Chief Executive Officer. Requirements: College degree, 5 years management exp, track record of revenue growth and business development, energetic, results-driven, passionate about Irish-American heritage. Desired: MBA or similar, exp in media or publishing, marketing, promotions, brand development, advertising sales. Sarah Archbold, Irish Echo Group email@example.com (212) 686-1266 X 121
Background: Sean Finlay, who made his mark as Meteor Mobile Communications director, bought the Irish Echo in 2002 for €2.2 million. The paper then had a circulation of 60,000. In 2005, he expanded the Echo’s circulation base to Ireland, and the Andersonstown News came on board to handling printing and distribution here. It’s circulation is now claimed to be 20,000.