Landmark Media also owns a range of local newspapers - such as the Evening Echo, Waterford News and Star, Western People, and The Nationalist.

As well as this, Landmark also has majority stakes in radio stations like Waterford's WLR and the south-east regional station Beat. It also operates the news website BreakingNews.ie.

The transaction is subject to a number of conditions including receipt of regulatory approvals from The Competition and Consumer Protection Commission, the Minister for Communications, Climate Action and The Environment as well as The Broadcasting Authority of Ireland. This could take up to six months to complete.

According to The Irish Examiner itself, the employees of Landmark Media were apprised of the sale of the media group by management at meetings this afternoon.

Liam Kavanagh, managing director of The Irish Times, said: “We don’t underestimate the challenges ahead but this combination could underpin the future of two long-standing, Irish-owned media organisations…that are like-minded editorially.”

Landmark Media Investments Group CEO Tom Murphy added: "For our part, we believe we have done everything possible to make and implement the right decisions in relation to the Landmark business and all of its stakeholders, particularly our very valued and loyal staff colleagues.

"I believe that a sale of the Landmark Media business to The Irish Times is in the best interest of all of the stakeholders, including staff, in Landmark Media and that it is the correct outcome also for The Irish Times and the Newspaper and Media industry generally in Ireland."