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The Sunday Business Post or SBP is a Sunday newspaper distributed nationally in Ireland and is focused mainly on business and financial issues in Ireland. Among the paper's columnists are Irish economists David McWilliams and Stephen Kinsella.

The Sunday Business Post
"Ireland's financial, political and economic newspaper"
The Sunday Business Post (Front Page 8 February 2015).jpg
Front page 8 February 2015
TypeSunday newspaper
FormatBroadsheet
Owner(s)Kilcullen Kapital Partners[1]
Founder(s)Frank Fitzgibbon, Damien Kiberd, James Morrissey, and Aileen O'Toole
EditorRichie Oakley [2]
Founded26 November 1989 (1989-11-26)
Political alignmentEconomic liberalism
LanguageEnglish
HeadquartersBlock B, The Merrion Centre, Merrion Road, Dublin, Ireland.
CityDublin
CountryIreland
Circulation25,740 [3] (as of January to June 2019)
ISSN0791-2617
WebsiteThe Sunday Business Post

Contents

Founding to Irish financial crisisEdit

The Sunday Business Post was co-founded by four people: the economist and editor Damien Kiberd, Aileen O'Toole (former editor of Business & Finance), Frank Fitzgibbon (editor of The Sunday Times Ireland) and James Morrissey (spokesperson for Denis O'Brien).[4]

The SBP was previously owned by Thomas Crosbie Holdings (TCH). It was then now owned by Key Capital, Paul Cooke and staff members (6% equity for staff).[5] It was then owned by Sunrise Media, the shareholders of which include Key Capital. It is now owned by Kilcullen Capital Partners.[1]

The paper's first edition appeared on 26 November 1989. While TCH's other major newspaper titles, the Irish Examiner and Evening Echo, are based in Cork, the Post is published in Dublin. The paper describes itself as "Ireland's Political, Economic and Financial Newspaper". It is a general newspaper with a strong emphasis on commerce, politics and financial markets. The newspaper does not have a sports section. Three supplements are published weekly with the newspaper: The Market, which concentrates on Irish Stock Exchange and company news; The Magazine, an entertainment and features magazine; and a property supplement. A once-monthly Computers in Business magazine is also included.

Ted Harding succeeded Kiberd as editor of the paper in 2001 and edited the paper for three years, resigning in October 2004.[6]

Examinership (2013)Edit

An interim examiner was formally appointed to Post Publications Ltd, publisher of The Sunday Business Post newspaper, on 15 March 2013.[7] The High Court was told that there might be a voluntary redundancy scheme at the newspaper in late 2013 which would target 25 staff positions. This could coincide with pay cuts of 7% for employees and further possible changes as part of a financial restructuring plan for the company, the court was told.[8]

It was reported on 28 April 2013 that two companies were interested in acquiring the SBP from the examiner. Landmark Media Investments, which acquired some of the assets of Thomas Crosbie Holdings, was no longer interested in the title. It was also reported that the SBP required an investment of at least €2m to acquire the paper and restructure it. Any new bidder would have to fund the cost of laying off some staff.[9]

On 8 May 2013, it was reported that The Sunday Business Post had started staff redundancies. Up to ten staff were to leave the company by 10 May 2013. Staff were also told about a third pay cut. Post Publications was also looking to reduce the amount paid to its landlord by €1 million per year.[10]

It was reported on 12 May 2013 that bidders for The Sunday Business Post included Michael Brophy, a former chief executive of Independent News & Media (Northern Ireland).[11]

On 15 May 2013, Post Publications was back in court. It reported that the examiner had failed to find a buyer in the first 70 days of the examinership. The examiner was given a final 30-day extension to find a buyer. If a buyer did not materialise, the examiner had to advise the court immediately.[12] Annual revenue fell from €15.3 million to €7.3 million in the five years to 2013. Circulation revenue fell from €4.9 million to €3.6 million in the last 5 years to 2013. The newspaper had 76 full-time employees and 123 freelance contributors and made a loss of €1.2 million in the year to 2013.[13]

Post-examinership (2013–)Edit

On 8 June 2013, it emerged that Key Capital, Paul Cooke and staff (6% equity for staff) had acquired The Sunday Business Post.[5]

Examinership ended on 19 June 2013. The new owners of the SBP, Brindisi Ltd, took out a €350,000 loan to part-fund the purchase.[14] Several staff left the paper, including former chief executive Fiachra O'Riordan, former senior assistant editor Kieron Wood and former deputy chief sub-editor Garvan Grant.

In the trading year for 2014, Post Publications Limited made a pre-tax loss of €628,000. Post Publications Limited paid €409,374 for redundancy payments and a new premises. Shareholders had pumped an additional €300,000 into the company; staff numbers had reduced again. Post Publications employed an average of 61 people in the year to the end of June 2014. Both circulation and advertising revenue remain "under pressure", the directors noted.[15]

In July 2014, Post Publications Ltd., the publisher of the paper, announced that Cliff Taylor would leave the paper after ten years as editor. Pat Leahy, the paper's deputy editor and political editor, was the paper's acting editor until Ian Kehoe was made editor.[16]

On 13 July 2016, it was announced that Paul Cooke had sold his stake to Key Capital. Cooke also resigned as managing director.[17] The SBP became legally owned by Sunrise Media, and the main shareholder in Sunrise Media is Conor Killeen's Key Capital.[18]

In September 2017, it was reported that The Sunday Business Post was for sale.[19] In September 2018, it was announced that Kilcullen Kapital Partners (KKP) had acquired the SBP.[20] KKP owned the SBP via a company called Encircle Business Post 365.[21]

In October 2018, it was announced that a three-to-four-month consultation was occurring at The Sunday Business Post that might lead to the print closure.[22] At a later stage, it was announced that the paper version of the paper would not close. [23]

In March 2019, it was announced that Encircle Business Post 365, the company that owns the SBP, had acquired event management company iQuest from outgoing owner Michael Nolan.[24]

In April 2019, it was announced that the CEO of the Post Publications was leaving the company[25] and it was reported that the SBP owner might float it on a stock exchange.[26]

In July 2019, it was reported that Beach Point Capital have provided backing to the owners of the Sunday Business Post. Beach Point Capital have a charge over certain assets. Beach Point Capital have also provided backing to Maximum Media and Irish Studio. [27]

In July 2019, Richie Oakley was made the editor of the Sunday Business Post. [28]

Circulation historyEdit

Year (period) Average circulation per issue
2009 (January to June)[29]
57,783
2012 (January to June)[30]
41,040
2012 (July to December)[31]
39,416
2014 (July to December)[32]
33,233
2015 (January to June)[33]
32,498
2016 (January to June)[34]
31,364
2016 (July to December)[35]
30,244
2017 (January to June)[36]
30,202
2017 (July to December)[37]
29,619
2018 (January to June)[38]
28,701
2018 (July to December)[39]
26,652
2019 (January to July)[40]
25,740

ReferencesEdit

  1. ^ a b "Sunday Business Post – Kilcullen Kapital".
  2. ^ https://www.irishtimes.com/business/media-and-marketing/richie-oakley-appointed-editor-of-sunday-business-post-1.3954295
  3. ^ http://www.ilevel.ie/print/irish-newspaper-circulation-jan-june-2019-island-of-ireland-report/
  4. ^ "New book by James Morrissey focuses on life long ago on Galway islands". IrishCentral. Archived from the original on 1 June 2015.
  5. ^ a b "Takeover deal agreed at Sunday Business Post". 7 June 2013.
  6. ^ Harding resigns at SBP Samantha McCaughren, Irish Independent, Business, 28 October 2004.
  7. ^ "8 expressions of interest in Sunday Business Post". 15 March 2013.
  8. ^ "Interim examiner appointed to Sunday Business Post". 7 March 2013.
  9. ^ "Crosbies pull out of bid to buy 'Sunday Business Post' - Independent.ie".
  10. ^ "'Sunday Business Post' to begin lay-offs - Independent.ie".
  11. ^ "Former INM boss Brophy entering the race to buy €1.5m Sunday Business Post - Independent.ie".
  12. ^ "Post Publications gets more time to find investor". 15 May 2013.
  13. ^ O'Connell, Hugh. "Interim examiner appointed to 'Sunday Business Post' newspaper".
  14. ^ "Sunday Business Post to exit examinership". 19 June 2013.
  15. ^ "'Sunday Business Post' records €628,000 loss".
  16. ^ Slattery, Laura (24 July 2014). "Taylor leaves Sunday Business Post after decade as editor". Irish Times. Archived from the original on 24 July 2014. Retrieved 30 July 2017.
  17. ^ "Sunday Business Post managing director Paul Cooke resigns - Independent.ie".
  18. ^ "Business Post price up as challenges increase - Independent.ie".
  19. ^ "'Sunday Business Post' put up for sale by Key Capital". irishtimes.com.
  20. ^ "Sunday Business Post – Kilcullen Kapital".
  21. ^ Paul, Mark. "O'Coineen recruits Galway media investor for 'Sunday Business Post' deal". The Irish Times.
  22. ^ "Sunday Business Post buyer hints at digital TV future". Independent.ie.
  23. ^ https://www.thetimes.co.uk/edition/ireland/why-are-newspapers-still-getting-it-wrong-qjkp0q007
  24. ^ Reporter, Post. "The Sunday Business Post buys events company - BusinessPost.ie". www.businesspost.ie.
  25. ^ "Sunday Business Post CEO steps down". Independent.ie.
  26. ^ Daly, Gavin (21 April 2019). "Sunday Business Post owner eyes Nordic float" – via www.thetimes.co.uk.
  27. ^ https://www.thetimes.co.uk/edition/ireland/beach-point-capital-tides-over-new-sunday-business-post-owner-30d2g9jtg?t=ie
  28. ^ https://www.irishtimes.com/business/media-and-marketing/richie-oakley-appointed-editor-of-sunday-business-post-1.3954295
  29. ^ http://www.abc-ireland.ie/Data/ProductPage.aspx?tid=1650[permanent dead link]
  30. ^ "Irish Sunday Newspaper ABC Circulations, Jan-June 2012 - Media and Marketing Consulting, PPC, SEO Ireland, Search Engine Optimisation". www.ilevel.ie.
  31. ^ "Sunday Newspapers ABC July-Dec 2012 - Media and Marketing Consulting, PPC, SEO Ireland, Search Engine Optimisation". www.ilevel.ie.
  32. ^ "Archived copy". Archived from the original on 21 February 2015. Retrieved 21 February 2015.CS1 maint: Archived copy as title (link)
  33. ^ "Archived copy". Archived from the original on 6 September 2015. Retrieved 20 August 2015.CS1 maint: Archived copy as title (link)
  34. ^ "Republic of Ireland Circulation Certificate, January to June 2016" (PDF). The Sunday Business Post. Retrieved 30 July 2017.
  35. ^ "Republic of Ireland Circulation Certificate, July to December 2016" (PDF). The Sunday Business Post. Retrieved 30 July 2017.
  36. ^ "Certificate" (PDF). www.abc.org.uk. Retrieved 18 May 2019.
  37. ^ Doyle, Conor. "Irish Newspaper Circulation July-Dec 2017 Island of Ireland Report - Media and Marketing Consulting, PPC, SEO Ireland, Search Engine Optimisation". www.ilevel.ie.
  38. ^ "Certificate" (PDF). www.abc.org.uk. Retrieved 18 May 2019.
  39. ^ "Certificate" (PDF). www.abc.org.uk. Retrieved 18 May 2019.
  40. ^ http://www.ilevel.ie/print/irish-newspaper-circulation-jan-june-2019-island-of-ireland-report/

External linksEdit