Irish newspaper group seeks new owner
Dunfermline Press Ltd., which publishes more than 30 local newspapers in the UK and Ireland, has put its Irish subsidiary Celtic Media Group up for sale, according to the Sunday Times, The Guardian reported.
The company's fate has been in a limbo since May, when its chief executive and majority shareholder Deirdre Romanes died.
The Westmeath Independent is one of the newspapers on sale
Now, PriceWaterhouseCoopers has been asked to manage the sell of the division, which includes titles like The Anglo-Celt, The Westmeath Independent, Westmeath Examiner and The Meath Chronicle, Allmediascotland.com informed.
Meanwhile, the Dunfermline Press Ltd. will be subject to a debt-for-equity restructuring led by Lloyds Bank, the Sunday Times said. According to the press, the publisher reported in 2009 a debt of £34 million due to a buying spree and low ad revenues.
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![Digg](http://digg.com/submit?phase=2&&url=http%3A%2F%2Fwww.sfnblog.com%2Fownership_and_regulations%2F2010%2F08%2Firish_newspaper_group_seeks_new_owner.php&bodytext=<form mt:asset-id="7640" class="mt-enclosure mt-enclosure-image" style="display: inline;" contenteditable="false"><a href="http://www.sfnblog.com/industry_trends/Westmeath%20Independent.jpg"><img alt="Westmeath Independent.jpg" src="http://www.sfnblog.com/assets_c/2010/08/Westmeath%20Independent-thumb-250x140-7640.jpg" class="mt-image-left" style="margin: 0pt 20px 20px 0pt; float: left;" width="250" height="140" /></a></form><p>Dunfermline Press Ltd., which publishes more than 30 local newspapers in the UK and Ireland, has put its Irish subsidiary Celtic Media Group up for sale, according to the Sunday Times, <a href="http://www.guardian.co.uk/media/greenslade/2010/aug/01/local-newspapers-ireland">The Guardian reported</a>.<br/><br/>
<p>The company's fate has been in a limbo since May, when its chief executive and majority shareholder Deirdre Romanes died. <br /></p><p><br /></p><p><i><font style="font-size: 0.8em;">The Westmeath Independent is one of the newspapers on sale</font></i><br /></p>&title=Irish newspaper group seeks new owner){kind=link}
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