The owner of the Daily Mail newspaper has agreed a deal to buy Nick Mulcahy’s Business Plus and BizPlus.ie titles.
he Competition and Consumer Protection Commission said it was notified of the proposed media merger on Monday. The deal will see DMG Media Ireland take sole control of Nalac Limited. All media mergers are subject to an enhanced level of competition scrutiny.
Nalac is the business-to-business (B2B) publishing firm behind Business Plus and its online brand BizPlus and is majority owned by its publisher Mr Mulcahy. Co-founder and director Siobhán O’Connell is also a shareholder. The latest accounts filed for the business show it had accumulated profits of just under €600,000 coming into 2020.
DMG Media Ireland publishes the Irish editions of the Daily Mail and Mail On Sunday as well as digital titles including female oriented Evoke.ie, news website Extra.ie and parenting website Rollercoaster. It’s owned by UK stock market-listed Daily Mail & General Trust (DMGT) which in turn is significantly owned by the founding Rothermere dynasty of newspaper proprietors.
DMGT has embarked on a process of selling off its valuable data, digital and specialist financial media arms as the Rothermeres prepare a bid aimed at buying up the shares they don’t own in the group in order to take the remaining media business off the stock market and back into private ownership.