The Irish Post newspaper will be back on the streets in a weeks after being bought up by London based Irish businessman and Loot magazine owner Elgin Loane
Previous owners, Thomas Crosbie Holdings had announced that the title would stop trading as of 19 August 2011, going into liquidation.
Now, following the formal liquidation two weeks ago, Mr Loane has beat off business rivals with a successful bid.
Mr Elgin, who initially apprenticed in Birmingham as a printer, qualified as an accountant in England and owns a number of print and media based businesses with offices in London, Birmingham and Manchester.
“The Irish Post has a long and proud tradition of serving the expatriate community in Britain for over forty years and must be continued for the benefit of both the incumbents as well as the growing population of Irish people heading to Britain,” said Mr Loane.
Irish Post journalist and Save the Irish Post campaign member Fiona Audley was delighted with the outcome. “This is a victory for the whole community,” said Ms Audley. “Now we are planning the future, which will see a bigger and better Irish Post coming out for the readers.”
Labour MP Stephen Pound, who supported the campaign to save the Irish Post, said: “This is brilliant news. The Irish Post offers a window onto the Irish community that needs to be kept on. Now it needs to be supported,” said Mr Pound. “There has been a gap in the week without the paper, so it is good to know that the paper is back.”