Irish Metro lost €2.7m in 2007

Free Irish daily Metro lost €2.7m last year, which brings its accumulated losses to more than €11m since it was launched in October 2005.

Fortunegreen, the owner is a joint venture between the Irish Times and Associated Newspapers (Metro UK), which each owns a 45% stake in the business, and Metro International, which has a 10% stake.

In 2007, Fortunegreen received non-interest bearing loans of €2.3m from its shareholders to shore up operations. That was on top of €7.27m in loans advanced to the company in the previous financial year. The shareholders had originally committed €2m to the venture. (Irish Independent)

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