IRELAND'S competition watchdog has cleared the proposed acquisition of Irish TV assets by The Irish Post.
The Competition and Consumer Protection Commission (CCPC) said the transaction would not substantially lessen competition in any market in the Irish State.
The deal now needs the approval of Ireland's Minister for Communications Denis Naughten.
Last month The Irish Post agreed a transaction on the purchase of the digital and intellectual property assets of diaspora broadcaster Irish TV.
The move will see The Irish Post acquire the Irish TV brand, business databases, website domains, social media and the extensive video content library, following the winding up of the TV company in December – less than three years after it was launched in Co. Mayo in 2014.
The Irish Post’s acquisition of the station’s assets will give the British-based media organisation an important “foothold” in Ireland.
“We see a strong future for Irish TV and indeed The Irish Post on small screen platforms like Facebook and Instagram, which can be successful away from the traditional large screen broadcast networks," a spokesperson said. "There is also the opportunity to supplement this by a return to Sky and other TV platforms.
