A receiver has been appointed to the media group which owns The Irish Examiner and Sunday Business Post. Thomas Crosbie Holdings (TCH) also has shareholdings in a number of radio stations and local newspaper titles and employs nearly 600 people.

The Examiner newspaper and a number of regional titles and broadcast investments are to be bought by Landmark Media Investments Ltd. This is to be done through financial restructuring of TCH.

As part of the re-structuring the Sunday Business Post is to apply to the High Court for the appointment of an examiner, while Thomas Crosbie Printers Limited will apply to have a liquidator appointed. This will see the loss of 12 jobs.

Several titles purchased

The Evening Echo, Waterford News & Star and the Wexford Echo have also all been purchased by Landmark Media.

The digital and new-media business TCM and Recruit Ireland have also been acquired while The Nationalist series, Western People and Roscommon Herald have been purchased by Landmark Media through share sales.

Landmark says it also intends to buy radio shareholdings in WLR, Beat 102FM and Red FM subject to BAI approval.

It says all titles and businesses acquired will continue to trade under their current trade names and that the 554 people employed are to transfer to Landmark Media under existing terms and conditions.