The Irish Post newspaper in Britain has been bought as a going concern by British publisher Elgin Loane for an undisclosed sum.
Elgin Loane publishes the classified advertising newspaper Loot.
The liquidator for the newspaper is understood to have been considering up to five bids for the purchase of the title.
The paper, which has served the Irish community in Britain since its foundation in the the 1970s, is now expected to begin publishing again within a matter of weeks.
The Irish Post was closed last month by its previous owners Thomas Crosbie Holdings amid concerns over declining circulation.
The paper's closure, with the loss of over a dozen jobs, had sparked protests in the Irish Community in Britain.
The Irish Post had been selling between 17,000- 20,000 copies per week before it closed in mid August.
This evening, former staff at the Irish Post said they were delighted with the purchase of the title by Elgin Loane, whom they said, had been their preferred bidder because of their commitment to maintaining the paper as the voice of the Irish community in Britain.
In a statement Fiona Audley, chair of Save the Irish Post Campaign, said: "We look forward to a new and exciting future for The Irish Post and thank all the readers and friends of the paper who showed their support over the last six weeks.
“We hope they will continue to support us now as we bring this valuable paper back to the newstands. The voice of the Irish in Britain is back!"