RTÉ will not proceed with plans to sell off the RTÉ Guide magazine, the broadcaster has confirmed.

The sale had initially been proposed as part of a series of measures aimed at reducing costs by €60 million over three years.

However, today the semi-state company said that none of the expressions of interest 'reached a level sufficient to merit' the sale.

The magazine will instead remain part of the broadcaster, with management saying they'll work with the magazine's staff 'on how best to take the publication forward'.

Today's announcement has been welcomed by the National Union of Journalists (NUJ).

Séamus Dooley, the Irish secretary of the union, said they had opposed the sale.

He explained: "We were concerned at the implications for employment but also believed that RTÉ should develop the RTÉ Guide rather than dispose of such a flagship publication.

"NUJ members are delighted that the magazine will continue to serve the Irish people under the RTÉ banner as part of the suite of multimedia services provided by the organisation.

"We look forward to working with management on ensuring the evolution of a national magazine which commands unique loyalty and affection.”

Other cost-saving measures put forward by RTÉ management last month included cutting around 200 jobs in 2020, moving production of Lyric FM from Cork to Dublin, the closure of its digital radio stations, and the end of the teletext service RTÉ Aertel.

The State broadcaster also wants to reduce salaries paid to its top contracted on-air presenters by 15%.