herald

Friday 23 February 2018

Casey to sell bulk of magazine empire after clinching deal

Businesswoman Norah Casey
Businesswoman Norah Casey

Norah Casey has agreed a deal with a US investor to sell the bulk of her Irish magazines empire.

The Dublin businesswoman has agreed a deal that will see New York-based Liam Lynch's Irish Studio acquire Irish Tatler, Irish Tatler Man, U Magazine, FOOD&WINE Magazine, Auto Ireland and Ireland of the Welcomes from Ms Casey's Harmonia.

Last year, Irish Studio paid €2.7m to buy IrishCentral.com, an online publisher which is aimed at the US market.

Mr Lynch's previous ventures include building Broadway.com, a popular theatre information and ticket website.

He has managed, acquired, started or invested in more than 25 private companies, and mentored countless others.

Ms Casey will retain a role as chairwoman emeritus following the sale.

Brands

In addition, she will continue to own and manage Harmonia's remaining brands, which include Woman's Way and Planet Woman, in her own right.

Ciaran Casey will join Irish Studio in an executive position to roll out the new strategy for the six magazines.

Commenting on the deal, Ms Casey said: "I'm looking forward to working closely with Liam and his team.

"This is an exciting development ensuring these iconic brands are moving to a company that will develop their digital presence and global reach."

Mr Lynch described the deal as "a major acquisition that realises our strategy of rolling up established brands on to our digital platform".

"These six brands, including Irish Tatler, are trusted brands that people love," he said.

"We will continue to loyally service our treasured print readers, while also bringing these titles online to engage and entertain new audiences," Mr Lynch added.

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