Metro Ireland lost at least €14 million -update

Accumulated losses of Fortune Green, the publisher of Metro Ireland, were €13.8 million at the end of 2008. (In the first version of this post, I made the mistake of writing about £ – Pound Sterling.)

The Irish Times and Associated Newspapers are each holding 45% of the shares – 10% is owned by Metro International. (Irish Independent)

As the losses in 2008 were almost 3 million, it’s safe to say that another 3 million will be added to the total losses in 2009. The paper was launched in October 2005.

The merger between Metro and Herald AM is currently investigated by the Irish Competition Authority.

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