Falling sales of the Daily Mirror forced Trinity to offload Irish titles

The company said seven Irish and Northern Irish publications were being sold, including Belfast's News Letter, the world's oldest continuously published English language newpaper.

Other Irish titles include The Derry Journal and the Donegal Democrat.

Trinity Mirror publishes national titles and 260 regional newspaper.

'Good price'

The publisher was forced to put its Irish newspapers up for sale in July as part of a shake-up of its business in the light of falling sales at its flagship Daily Mirror newspaper.

The company believed its Irish papers were non-core assets and put them on the market.

Sly Bailey, Chief Executive Trinity Mirror plc said: "These are tremendous assets to own but for Trinity Mirror there was limited strategic fit.

"We were pleased with the high level of interest in these titles, and believe we have achieved a good price and realised value for our shareholders by their disposal."

"Strong growth"

Robin Marshall, 3i Director said: "We are delighted to be able to back existing management to grow these titles.

"They are a talented and dynamic team who have a significant track record of success.

"The economy in the north of Ireland is experiencing strong growth, and successfully run local newspapers will undoubtedly benefit.

"In addition there are many exciting opportunities to consolidate across the Irish market, replicating what we have seen in the UK mainland over the last ten years."