The owners of popular online news platform The Journal and its sister sports publication, the42.ie, have made a surprising decision to pull the plug on a potential sale of the brands to Irish Independent publisher Mediahuis. In a meeting with staff, Brian Fallon, who co-founded Journal Media with his brother Eamonn in 2010, confirmed that the company had considered a sale but ultimately decided not to proceed.
The Irish Times had reported last week that negotiations were underway for the sale, with the Business Post also expressing interest in acquiring the business. The value of the potential deal was rumored to be in the “low single-digit millions.”
However, in a meeting that lasted over an hour, Brian Fallon informed employees that the sale is now off the table and that the company is committed to its long-term future. The Fallons, who are also co-founders of the property website Daft.ie, emphasized their dedication to Journal Media and its brands.
The42.ie, a subscription-based sports service, and The Journal, which accepts contributions from readers, are part of Journal Media’s portfolio. The company also operates Noteworthy.ie, an investigative journalism platform funded by readers.
Despite previous closures of pop culture news site DailyEdge.ie and business news service Fora.ie, Journal Media remains focused on delivering quality news and content to its audience. The decision to retain ownership of the brands reflects the Fallons’ commitment to the company’s future and continued success.