The Irish Times Group has acquired the remaining shares in luxury and lifestyle publisher Gloss Publications, the company behind magazine The Gloss, in which it has held a 50 per cent stake since 2006.
The acquisition of the shareholding held by Gloss Publications co-founders Jane and Sarah McDonnell is part of a strategic move by The Irish Times Group to expand its media and digital services offering after acquiring leading deaths notice site RIP.ie earlier this year.
Founded in 2006, the Gloss, which is published on the first Thursday of every month in large glossy print format with The Irish Times, features a mix of lifestyle, interior design, food and travel articles and features.
The company publishes a special Gloss Interiors edition, circulated by The Irish Times, twice annually – in the spring and autumn. Gloss Publications also publishes magazines for private clients, including universities, and runs premium events, including the annual Gloss Gala.
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Deirdre Veldon, managing director of The Irish Times, said the acquisition would enhance the group’s portfolio of “quality journalism and services”.
“Sarah and Jane have created top-class publications in The Gloss and The Gloss Interiors, which are avidly consumed in digital and print by their loyal and discerning audiences,” she said. “We have enjoyed working as co-shareholders with Jane and Sarah over many years and we believe now is a good time to build on that relationship to bring their high-end brand of original content and premium events to a wider audience.”
Abridged accounts for Gloss Publications show the company had accumulated profits of more than €342,000 at the end of 2022, up from €226,514 in 2021. In a note attached to the accounts, the directors said there had been a “continued improvement in the business” with revenues moving “closer” to pre-pandemic levels.
Commenting on the deal, Jane McDonnell said the strategic partnership The Irish Times has had with the Gloss Publications over nearly two decades has been key to the company’s success. “Over the past 18 years, we have invented and reinvented our titles The Gloss, The Gloss Interiors and thegloss.ie and created many successful unique event formats – including The Gloss Gala – in multiple sectors.”
Gloss editor Sarah McDonnell said: “We set out to create a new media brand, one that combined all the strengths of print with the benefits of digital. Our readership is outstanding in its breadth and loyalty to the brand. This highly engaged audience drives us to aspire to excellence in everything we do.”
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