The owners of the Sunday Business Post have agreed to meet staff next Monday over the controversial departure of its editor, Mr Ted Harding.
Thomas Crosbie Holdings (TCH), which also owns the Irish Examiner, will be represented by its chief executive, Mr Anthony Dinan, who will address editorial staff. The staff are demanding clarifications on the independence of the paper and detailed reasons for Mr Harding's departure.
Over the next few weeks, a team of journalists will be running the newspaper until a successor is selected. The post will be advertised.
It is understood that negotiations on Mr Harding's departure are almost complete. According to industry sources, he will be paid a severance package totalling about €250,000.
The possibility of Mr Harding departing has been on the cards for some time, sources have said. Mr Harding was not at his desk late last week, and was seen in the company of his solicitor, Mr Bill Holohan.
It is understood that differences with TCH over editorial direction were a factor in the departure of Mr Harding. But the company has declined to comment on suggestions that the newspaper's recent legal battles with businessman Mr Denis O'Brien were also linked to the departure.
Mr Dinan yesterday said he did not want to respond to suggestions that Mr Harding's departure was a "disturbing development" for the press generally.
Mr Séamus Dooley, of the National Union of Journalists, said Harding's departure was a "very disturbing development".
"Ted Harding was a very courageous journalist. He exhibited a lot of bravery in stories concerning the relationship between big business and politics, notably in relation to Denis O'Brien and ESAT.
He was centrally involved in investigating the financial affairs of businessmen like Mr O'Brien. He was also consistent in highlighting the various business links of Independent News and Media [ IN&M], through Sir Anthony O'Reilly, and used his position as editor of a non-IN&M-linked Sunday newspaper effectively.
This departure could be seen as sending a signal to brave editors who take such stances that they could be vulnerable," said Mr Dooley.