The government will buy the Steam Packet Company.
Tynwald debated the issue this afternoon, which saw Treasury Minister Alf Cannan present the proposed deal to members.
The motion passed with the majority of members voting in favour, only Douglas South MHK Kate Beecroft voted against the purchase.
The move is expected to cost £124 million.
Mountain Road closed for hill climb
Part of the Mountain Road is shut today as the Manx Classic Hillclimb continues.
Prom steps unsafe for Tower of Refuge walk
The annual walk out to a Douglas landmark will take place tomorrow.
Can the government earn its Stripe?
An Onchan MHK will quiz the Island's enterprise minister about bringing a payment processing company to the Island.
Houses plan for former nursing home
A former nursing home in Douglas, which was to be converted into more than 30 apartments, could now be transformed into townhouses.
New Wetherspoons to open at 8am every day
The Island's new Wetherspoons will keep its later opening hours - and open from 8am every morning.
Dozens of telegraph poles needed for Peel fibre network
Manx Telecom says it wants to put up dozens of new telegraph poles in Peel as it rolls out its fibreoptic broadband network.
Homestay deadline runs out next week
Time's running out if you want to rent your home to TT visitors this year.
Hill climb shuts part of TT course
Part of the TT course has shut for four-wheeled motorsport action today.
