4th Apr 2019 11:06
LONDON (Alliance News) - Independent News & Media PLC on Thursday confirmed that it has received an approach in relation to a possible offer.
Shares in the company jumped 28% on the back of the news to EUR0.095 each, valuing the company at EUR131 million.
The Irish newspaper publisher noted, however, that discussions are at a preliminary stage and there is no certainty that any offer will be made, or as to the terms of any such offer.
The Irish Times on Thursday reported that Independent News & Media's Boss Michael Doorly raised prospect of sale of media group amid a significant drop in its annual profit.
Independent News & Media on Friday last week reported a 37% drop in 2018 pretax profit to EUR10.3 million from EUR16.4 million, while revenue declined by 2.1% to EUR191.0 million from last year's EUR195.0 million.