Trinity Mirror Group has announced it is to sell Belfast Telegraph Newspapers Ltd to Independent News and Media for £300m

BTNL will be managed from London and a local board will be appointed. It will become part of a group which includes The Independent and several UK regional newspapers and magazine titles.

As well as the Belfast Telegraph, which has a daily circulation of117,207, the deal includes The Sunday Post, a number of weekly titles, and the Telegraph’s online operations. Last year, the group made aprofit of £21m on turnover of £54m.

Derek Carvell, managing director of BTNL, welcomed the announcement on the company’s future.

He said: “I would also wish to pay tribute to Trinity Mirror, which, in its ownership of our titles over the past four years, has added a new dimension to BTNL.

“I feel certain that Independent News and Media will bring further benefits to our company and ensure that it continues to play an important role in Northern Ireland as one of the province’s leading companies.”

He added: “The Independent News and Media group has a worldwide reputation, from the UK and Ireland to South Africa, New Zealand and Australia, and the Telegraph will be joining a stable of highly prestigious titles around the globe.”

Belfast Telegraph editor Edmund Curran said he envisaged no change in the paper’s editorial policy.

“The Telegraph is one of the great cross-community institutions of Ulster,” he said.

“We are proud that it is accepted in unionist and nationalist homes alike and read by many more people across the province than any other newspaper.

“The strength is recognised and I look forward to a future with that distinctive editorial integrity and objectivity intact.”

Trinity Mirror Group was forced to sell BTNL by Trade and Industry Secretary Stephen Byers, as a condition for giving approval to the merger of Trinity and Mirror last year.

Mirror Group already owned a number of titles in the province and Mr Byers said he was concerned that there should be a range of ownership of newspapers in the region.

The Independent News & Media Group said the local board of BTNL would include Lord Rogan, chairman of the Ulster Unionist Party; Dr Chris Gibson, a former chairman of the CBI; and Berna McIvor, a prominent member of the SDLP. Others would include solicitors Trevor Ringland and Aidan Canavan, and Lady Moyra Quigley, a former chairman of the Northern Ireland Livestock Commission.

Brendan Hopkins, chief executive officer of IN&M, said the group was delighted to have been successful in the bidding process for BTNL.

“We look forward to concluding the transaction as soon as is practically possible. This acquisition will be earnings-enhancing for our group and enables us to own the leading metropolitan newspaper in the Northern Ireland market.”

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