Media group Scottish Radio Holdings has agreed to a takeover by British media group Emap in a deal which will see its Irish local newspapers sold to Johnston Press.
The boards of Emap and SRH, which owns Today FM and Dublin's FM104, have agreed on the terms of a recommended takeover which values SRH at £391m. Emap already owned 27% of SRH.
Under the agreement, Yorkshire Post owner Johnston Press will buy SRH's newspaper division Score Press for £155m. Score Press's 45 titles include the Kilkenny People, Longford Leader and Leitrim Observer in the Republic.
The newspaper division had revenues of £18.7m and profits of £6m for the six months to the end of March.
SRH chief executive David Goode said that combining Emap's radio business with SRH's 22 stations in the UK and Republic of Ireland would create a strong group with 'exciting prospects'.
