IAN CURRAN The owners of online news platform The Journal and its sister sports publication and podcaster the42.ie have pulled the plug on a potential sale of the brands to Irish Independent publisher Mediahuis and are committed to their long-term future, staff have been told. Brian Fallon, who set up Journal Media with his brother Eamonn in 2010, confirmed to employees on April 23, 2024 that the company had considered a sale of Journal Media, but ultimately decided not to proceed. The Irish Times reported last week that the owners were in talks to sell the business to Mediahuis.

It is understood the Business Post, controlled by Galway businessman Enda O Coineen s Kilcullen Kapital Partners, was an underbidder for the business in a sales process being run in-house by Journal Media, the parent of the news brands. The value of a potential deal was said to be in the low single-digit millions. However, at a meeting on April 23, 2024 that lasted more than an hour, Brian Fallon told staff the sale is now off the table and that while a deal was considered, the company ultimately decided not to proceed.

Mr. Fallon said that he and his brother are committed to the long-term future of Journal Media. Multiple phone calls to Mr. Fallon were not returned. A spokeswoman for Mediahuis declined to comment.