Irish Press plc has announced that it has bought just under 30 per cent of County Tipperary Radio Ltd. The company would not disclose the purchase price it paid for the stake in the station which has local franchises in north and south Tipperary.

Irish Press chairman Mr Vincent Jennings and director Mr James Lenehan have joined the radio station's board. The acquisition was made through Irish Press Media, a wholly-owned subsidiary of Irish Press.

The company would not comment on the deal last night, but said that it was looking to invest in other media. Irish Press plc is the holding company for the group. It holds a majority stake in Irish Press Publications (IPP) which owns the three newspaper titles - Irish Press, Evening Press and Sunday Press, which have been off the streets since 1995 when its operating company Irish Press Newspapers went into liquidation. Last year Irish Press made a pre-tax profit of £1.262 million in the year ended march 31st 1998, compared with a loss of £68,000 the previous year. This was due to an exceptional gain from the sale of its remaining stake in the Press Association (PA) and the part repayment of a loan.