Sunday Business has been sold to one of the newspaper’s backers, Gordon Brown and his business Group 2000.
Brown has already injected funds into Sunday Business to allow it to restructure in June and search for a new owner.
Group 2000, an earth-moving to graphics combine, bid against another small group for the title. It was sold for an undisclosed amount by the newspaper’s administrator Royce Peeling Green.
Founder and editor Tom Rubython says his position at Sunday Business will not change. “We are breaking even,” he says. “It shows the original idea works – people do want to read a business newspaper.”
It is understood one of the groups vying to buy Sunday Business was headed by Phil Lawlor, former mar-keting director and later general manager of the paper.
Royce Peeling Green insolvency manager Kerry Ogorman says there was a confidentiality clause in last Friday’s agreement that meant no other parties bidding for Sunday Business could be revealed.