15/09/2009
Tele Gets Big Print Deal
An iconic local newspaper is to become one of Europe's biggest producers of daily titles.
Deals worth £40m will mean the loss-making Belfast Telegraph can now be more confident about its future.
Owners, Independent News and Media (NI) said it had reached long-term deals with two UK newspaper giants to print editions for both sides of the Irish border.
All sections of the Daily Telegraph will be printed at its plant in Newry, for the next 15 years.
It also won the contract to print the Daily Mirror on the Belfast Telegraph's presses for another seven years.
The contracts worth a total of £40m mean that INM in Northern Ireland will now be printing all Mirror titles and the Telegraph titles, together with the Sun, News of the World, the Daily Express and Sunday Express, the Daily Star and the London Independent.
It also prints the Irish Star, the Sunday World and the Sunday Tribune, as well as a series of magazines for the Independent in London.
The 'Tele' reported a loss last month with advertising revenue down and said it did not expect recovery this year.
It made a pre-tax loss of €48.5m (£42.7m) for the first six months of 2009, compared with a €96.6m profit in the first half of 2008.
The company warned that its full-year earnings would be at the bottom end of current expectations.
Advertising revenue was down 19.6% in the period and no recovery is expected in the second half of the year.
The Dublin-based owners INM was also supposed to have repaid a €200m bond in May and has been rolling it over since then.
It is also due to repay €50m of bank debt in September.
As a result of the losses, the company said it would not be paying an interim dividend.
See: Belfast 'Tele' Reports News Of Losses
(BMcC/KMcA)
Deals worth £40m will mean the loss-making Belfast Telegraph can now be more confident about its future.
Owners, Independent News and Media (NI) said it had reached long-term deals with two UK newspaper giants to print editions for both sides of the Irish border.
All sections of the Daily Telegraph will be printed at its plant in Newry, for the next 15 years.
It also won the contract to print the Daily Mirror on the Belfast Telegraph's presses for another seven years.
The contracts worth a total of £40m mean that INM in Northern Ireland will now be printing all Mirror titles and the Telegraph titles, together with the Sun, News of the World, the Daily Express and Sunday Express, the Daily Star and the London Independent.
It also prints the Irish Star, the Sunday World and the Sunday Tribune, as well as a series of magazines for the Independent in London.
The 'Tele' reported a loss last month with advertising revenue down and said it did not expect recovery this year.
It made a pre-tax loss of €48.5m (£42.7m) for the first six months of 2009, compared with a €96.6m profit in the first half of 2008.
The company warned that its full-year earnings would be at the bottom end of current expectations.
Advertising revenue was down 19.6% in the period and no recovery is expected in the second half of the year.
The Dublin-based owners INM was also supposed to have repaid a €200m bond in May and has been rolling it over since then.
It is also due to repay €50m of bank debt in September.
As a result of the losses, the company said it would not be paying an interim dividend.
See: Belfast 'Tele' Reports News Of Losses
(BMcC/KMcA)
Related Northern Ireland News Stories
Click here for the latest headlines.
25 November 2024
Ergo Invests £4.5m In NI Expansion
Leading IT solutions provider, Ergo, will invest £4.5 million to expand into Northern Ireland, creating 40 high-quality jobs over the next three years.
Ergo Invests £4.5m In NI Expansion
Leading IT solutions provider, Ergo, will invest £4.5 million to expand into Northern Ireland, creating 40 high-quality jobs over the next three years.
25 November 2024
Visit Belfast Celebrates 25 Years of Transforming Tourism Landscape
Visit Belfast, the city's dedicated Destination Marketing and Management Organisation (DMMO), is celebrating a quarter-century of success.
Visit Belfast Celebrates 25 Years of Transforming Tourism Landscape
Visit Belfast, the city's dedicated Destination Marketing and Management Organisation (DMMO), is celebrating a quarter-century of success.
27 May 2003
Belfast Telegraph print hall damaged by fire
A fire within the main building of the Belfast Telegraph on Royal Avenue in Belfast has put the newspapers printing operation out of action for the first time in 20 years. It is believed that the fire, which occurred on Monday night, was started by a spark from a welders torch that ignited a stack of papers in the press hall.
Belfast Telegraph print hall damaged by fire
A fire within the main building of the Belfast Telegraph on Royal Avenue in Belfast has put the newspapers printing operation out of action for the first time in 20 years. It is believed that the fire, which occurred on Monday night, was started by a spark from a welders torch that ignited a stack of papers in the press hall.
15 November 2024
New Food Strategy Aims To Make NI A World Leader In Sustainable Food
Northern Ireland's first Food Strategy Framework was launched today by DAERA Minister Andrew Muir. The strategy, titled "Food at the heart of our society - A prospectus for change," aims to position Northern Ireland as a world leader in sustainable, healthy, and nutritious food.
New Food Strategy Aims To Make NI A World Leader In Sustainable Food
Northern Ireland's first Food Strategy Framework was launched today by DAERA Minister Andrew Muir. The strategy, titled "Food at the heart of our society - A prospectus for change," aims to position Northern Ireland as a world leader in sustainable, healthy, and nutritious food.
28 May 2009
Gregory Campbell's Name Added To Daily Telegraph's Continuing Exposés
Revelations by the national Daily Telegraph over Westminster politicians' expenses claims turned the spotlight on Northern Ireland this week. The paper reported that East Londonderry MP Gregory Campbell, pictured, made second homes claims of more than £77,000 over four years.
Gregory Campbell's Name Added To Daily Telegraph's Continuing Exposés
Revelations by the national Daily Telegraph over Westminster politicians' expenses claims turned the spotlight on Northern Ireland this week. The paper reported that East Londonderry MP Gregory Campbell, pictured, made second homes claims of more than £77,000 over four years.