Five local newspapers and three radio stations including Today FM and FM104 have been taken over as part of a €600 million deal. Scottish Radio Holdings has sold Irish assets to two British companies.

This deal sees The Kilkenny People, The Tipperary Star, The Clonmel Nationalist, The Leitrim Observer and the Longford Leader change hands. They will now be owned by Johnston Press - which publishes the Yorkshire Post.

The takeover will also see its radio stations, including Highland Radio in Donegal and Dublin's FM104, being bought by Emap. One of the biggest assets will be Today FM which was originally bought for €100 million four years ago.

In many cases advertising revenue for Irish media companies is lower than European counterparts. But many experts say that will change and that is why people want to buy the Irish companies.