FL Buys Racing Post
Published: Monday, October 01, 2007 Online-Casinos.com
FL BUYS RACING POST
GBP 170 million deal finalised
The Racing Post has been acquired from Trinity Mirror by the Irish company FL Partners for a reported GBP 170 million. The deal includes the Racing Post newspaper, its website and other titles in the betting business, according to British business press reports this week.
The acquisition seems to have brought on some executive changes, with former editor Alan Byrne appointed CEO and Editor In Chief, and FL directors Peter Crowley and Neill Hughes joining the board as co-chairmen.
Commenting on the changes, Crowley said FL Partners was 'passionate' about racing and has a real commitment to maximising the potential of the business now that it is in the FL stable.
"For FL Partners, this is a compelling investment opportunity - a strong cash-generating business with a committed staff and a fantastic brand which can be nurtured, enhanced and developed," he added.
Byrne edited Racing Post from November 1993 to 2002 and said: "It's a great thrill to return to the Racing Post and I am looking forward to working again with its excellent staff. As well as being 'the bible' for racing people, the paper's extensive coverage of football, golf and all other sports has a very strong following.
"Everyone in the racing, bloodstock and betting industries relies on the Racing Post as the definitive source of data and quality editorial coverage. It is our job now to ensure that it meets and exceeds their expectations."
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