‘The Irish Post’ an Irish diaspora newspaper based in the UK and owned by Elgin Loane from Cork has agreed a transaction in relation to certain business assets of Irish TV with Michael McAteer of Grant Thornton, Dublin.
The transaction will be subject to approval of the Competition and Consumer Protection Commission and the Minister for Communications, Energy and Natural Resources.
Irish TV which had its headquarters in Westport, Co Mayo was placed into liquidation late last year with the loss of over 20 jobs after its financial situation became unsteady after its multi-millionaire backer John Griffin pulled out his support for the channel.
The assets which ‘The Irish Post’ is to buy include; Irish TV’s business name, business databases, website domains, social media and the extensive video content library.
In a statement issued on Thursday 2nd February the proposed purchasers said, “The Irish Post is delighted to have agreed the terms for the purchase of these assets and complements our own moves into the digital arena with video journalism and broadcasting becoming more prevalent everywhere. We see a strong future for Irish TV and indeed The Irish Post on small screen platforms like Facebook and Instagram which can be successful away from the traditional large screen broadcast networks. There is also the opportunity to supplement this by a return to Sky and other TV platforms.
“The annual Irish Post Awards in London is a huge and popular event and we have noted the successful Irish TV Country Music Awards from afar and see further potential in events in the future. On a community level, we are believers in the Irish TV concept of bringing local Irish stories to the global Irish diaspora audience.”
A statement from Irish TV’s liquidator said the channel’s Sky slot is to be sold separately subject to conditions.