Britain's leading racing daily, The Racing Post, has been sold to FL Partners, an Irish private equity investment firm, for approximately $342 million. The paper was sold by the Times Mirror Group, which had been behind a short-lived American racing paper, The Racing Times, in 1991.
The new owner has named Alan Byrne as the Racing Post's new chief executive and editor-in-chief. Byrne, who had been editor of the Post from 1993 to 2002, has been serving as a consultant to Sheikh Mohammed's Godolphin Racing.