'Metro' and 'Herald AM' to merge
Dublin’s two morning freesheet newspapers, Metroand Herald AMare to merge, it has been confirmed.
Associated Newspapers and The Irish Times, joint owners of Metro Ireland, and Independent News and Media, owners of Herald AM, have agreed to merge the two newspapers into a single new title, Metro Herald.
Each shareholder will retain one third of the merged business.
The merger, which is subject to the approval of the Competition Authority, will see the shareholders increase investment into the merged business, the parties said in a statement.
Some 70,000 plus copies of the new free newspaper will be distributed daily in the greater Dublin area.
Chairman of Metro Ireland and managing director of Association Newspapers Free Division Steve Auckland said it was “a great development for all three parties”.
Maeve Donovan, managing director of The Irish TimesLtd said: “The merger will build on the success of Metro in creating a strong newspaper brand for young urban commuters. It will provide a powerful platform for advertisers as a single unified title looking to maximize the effectiveness of advertising spend to this valuable audience.”
Vincent Crowley, chief executive of Independent Newspapers (Ireland) said readers and advertisers would welcome the development.