Independent News and Media, the biggest news publisher in Ireland, has accepted a €145.6m takeover offer from a Belgian media group.

INM, which publishes the Belfast Telegraph, Irish Independent, Sunday Independent, The Herald, Sunday World and Sunday Life newspapers, as well as 13 weekly regional titles, said the takeover would allow it to continue delivering high-quality journalism.

Publisher and broadcaster Mediahuis made the cash offer after receiving approval from INM’s largest shareholders, Irish billionaires Denis O’Brien and Dermot Desmond, who between them own 44.9 per cent of the company, on condition the deal is completed by 30 September.