Ardmore Studios sold to RTÉ on behalf of the government.
Ardmore Studios on a 35 acre site near Bray in County Wicklow was sold for £390,000 at a public auction conducted by John Finnegan of Finnegan Menton Estate Agents.
The studios will now be managed by RTÉ pending the establishment by Minister for Industry and Commerce Mr Keating of a body to run them.
The move is an attempt by the government to make Ardmore Studios a viable commercial proposition and also to safeguard employment for skilled Irish workers in the film industry. Once the body has been established, ownership will be transferred from RTÉ and Ardmore will become a semi-state body.
Ardmore Studios were first opened by Minister for Industry and Commerce Sean Lemass in 1958 with Emmet Dalton and Louis Elliman as Managing Directors.
An RTÉ News report broadcast on 25 July 1973.