The Limerick Independent has been bought-out by management, thus making the paper completely locally owned, Cork 96 FM reported Wednesday.

The buyout, for an undisclosed amount, also secures 15 jobs at the Limerick, Ireland newspaper.

The newspaper was launched by Declan Dooley and Jarlath Feeney two years ago. Dooley and Feeney, who also own newspapers in Galway and Cork, said it is important for the newspaper to be owned and operated locally, Cork 96 FM reported.