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There have also been negotiations over a £19m printing contract with Trinity Mirror.
The contract is Newsday's first outside printing contract, the statement said.
It paid £7.4m and the cancellation of a £37.4m printing contract.
According to the Irish Times, TCH's move was taken to release the group from what is believed to be an onerous printing contract and certain property leases.
The bulk (£37.4m) of the deal's £44m headline figure, is actually Trinity Mirror taking over the printing contract for producing the papers it will now own.
There were also major liabilities associated with continued ownership, including the fixed costs of a long-term printing contract with Trinity Mirror.
Similar(38)
But the savings made – first and foremost via printing contracts – are helped by relatively small numbers.
The majority Whigs wanted to award the printing contracts to firms that favored them, and the Democrats filibustered the appointments.
Laval owns Le Moniteur, which is published in Clermont-Ferrand and gets a large share of the Vichy printing contracts.
News UK also recently renewed major printing contracts to produce the London Evening Standard and the Financial Times.
INM's costly long-term printing contracts for the Independent titles with Trinity Mirror are understood to be still under negotiation, with an extended deadline for exclusive talks between the two parties set to end next Friday, 26 February.
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