NewsSpread Reach Home Delivery Former assets Ireland In 1993, the group bought into the now defunct Sunday Tribune, in which it owned 98% of the issued share capital and over which it has considerable influence. As INM technically only held 29.9% of voting shares and so lacked management control, it did not consolidate the results of the Tribune, which is loss-making, with accumulated losses of around €45 million since acquisition. The Tribune went in to administration and closed in February 2011. The group launched Independent Colleges, which has its base on Dublin's Dawson Street, in 2007, and sold its education division in 2014. The Irish Daily Star, formerly 50% owned by INM, was sold to Reach plc, parent of the Daily Star in the UK, in 2020. In 2022, the Fingal Independent was closed. United Kingdom The Independent (of London) was bought for around €100 million in 1997 and up until March 2010 the title had made cumulative losses of least €150 million. The Independent and the Independent on Sunday newspapers were sold to a company controlled by Alexander Lebedev in March 2010. During 2007, INM opened a new full-colour Goss printing press facility in Newry, Co. Down. The press the Goss Flexible Printing System known as the FPS was the first FPS sold by Goss Preston. Ireland's Saturday Night (closed in 2008) South Africa Until 2013, the group was the second biggest newspaper publisher in South Africa, owning 14 newspapers including The Star and Pretoria News in Gauteng, the Daily Voice, Cape Times, Cape Argus and Weekend Argus in Cape Town, The Mercury, Post, Isolezwe, Daily News, Sunday Tribune and Independent on Saturday in Durban, the Diamond Fields Advertiser in Kimberley, as well as the national Sunday Independent and 13 community newspapers in Cape Town. The group's titles account for 48% of the total advertising spend in paid newspapers, 22% of all newspapers sold in the country, and 63% of the English language market. In mid-2012, speculation began that INM would sell their South African operation. This was later confirmed. INM had initially hoped for 250 million EUR for INM SA, however bids came in at around 150 million EUR. Cape Town businessman Iqbal Surve's Sekunjalo Investments consortium were the frontrunners to purchase INM SA. Initially Sekunjalo was set to take a 75% stake in the consortium, but this was changed to 55%, with the remainder going to two