The acquisition of the Sunday Business Post by Trinity International Holdings has a major significance for the Irish media, not least because it is the first time a foreign media company has entirely owned an Irish newspaper.
It also considerably strengthens the Sunday Business Post, which has always seen itself threatened by the dominance of Independent Newspapers and by News International's aggressive marketing of the Sunday Times.
The editor, Mr Damien Kiberd, a critic of Independent Newspapers and its near monopoly in the newspaper market, often points out that the Sunday Business Post is the only Irish Sunday newspaper not owned, or bankrolled, by Independent Newspapers.
It was the perceived vulnerability of the Sunday Business Post which led to an alliance with Mr Conrad Black, of the Telegraph group - owners of the Daily and Sunday Telegraph - to try to buy the Irish Press group some years ago. That move was unsuccessful.
Given the often strong nationalist opinions expressed in the Sun- day Business Post's editorials, the links with both Mr Black and now Trinity International Holdings might seem surprising.
The Sunday Business Post is a small company with few resources. The link with Trinity will give it access to cheap printing by the Belfast Telegraph, also part of the Trinity empire, and to possible further investment.
The other attraction of Trinity is that unlike Independent Newspapers or News International it is not dominated by a strong media baron such as Dr A.J. O'Reilly or Mr Rupert Murdoch.
That the Sunday Business Post has plans was clear from a comment from the chief executive, Ms Barbara Nugent, yesterday, when she said: "Post Publications has a clear strategy to develop not only the Sunday Business Post but other related ventures which can use the talent of our dedicated team of management and staff. I look forward to developing the company along with my colleagues under Trinity's umbrella."
Trinity must have its own plans: £5.55 million is a hefty price to pay for a newspaper that made profits of £343,000 last year. There was no indication yesterday what the plans might be, but Trinity is an aggressive player in the newspaper industry in the UK, so it is unlikely to be simply investing money in the hope of recouping its investment over time.
The Sunday newspaper market is dominated by Independent Newspapers. The Sunday Independent has a circulation of 342,153. It owns the Sunday World, which also sells just over 300,000, and has a stake in the Sunday Tribune. Independent Newspapers has also funded the losses of the Sunday Tribune.
Trinity International Holdings, it is believed, has been interested in entering the Republic's newspaper market for some time. It is thought that the company looked at the Irish Press group at one stage with a view to investing. It also investigated the possibility of investing in the Sunday Tribune four years ago.
The Sunday Business Post was clearly a more attractive option. It comes with no other shareholders or ties. Trinity knows the newspaper, as it has been a client of the Belfast Telegraph, where it is printed. Now Trinity, which owns 123 other newspapers, has a small part of the Irish newspaper market. Its entry into the Republic could lead to radical changes with knock-on effects throughout the whole industry.
The link with the Belfast Telegraph makes a number of developments possible. Both newspapers could link up for advertising deals or the Sunday Business Post could publish a Northern edition. The Belfast Telegraph does not publish on Sundays and Northern Ireland has no business newspaper.