Examiner Publications looks set to make a major financial gain from the disposal of its Cork city centre premises, it has emerged.

The company, which publishes the Examiner and Evening Echo titles, is due to address staff on Monday about the disposal of offices at Academy Street and Half Moon Street.

These properties, just off Patrick Street, have been valued at €25 million.

The publishing company refused to discuss the changes yesterday and managing director Mr Anthony Dinan said he would only reveal details after meeting staff in Cork's Metropole Hotel.

The staff will also be told of future printing plans by the group. For several years there have been reports of the company moving its printing operations to another site, possibly in Tipperary. The company's Cork press dates back to 1976, although it has been upgraded on several occasions.

Staff declined to give their response to the changes yesterday, although some printing staff expressed reservations about moving to another site.

The company is due in the Labour Court this week on the issue of a new pay agreement with staff.

The company's last pay deal elapsed at the end of 2002.

Meanwhile, Thomas Crosbie Holdings Limited, a related company that owns several provincial papers, has announced that its acquisition of the Roscommon Herald has been approved by the Competition Authority.

The title, which is one of the longest established in the country (1859), has been acquired from Mr Brian Nerney for an undisclosed figure.

Mr Nerney, who will remain as chief executive of the newspaper, said he was delighted at the news and the purchase offered "excellent development opportunities for both the title and the staff".

He confirmed that no jobs would be lost as a result of the takeover.