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.
Bad weather means two ferry crossings cancelled
Two ferry sailings have been called off in the face of bad weather tonight.
Commissioner hits out at "nuisance" campervans
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Livestock worrying consultation ends this week
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Warning over possible ferry disruption tonight
Two ferry sailings are at risk of disruption tonight.
Department told to provide new FOI response to Visit Isle of Man query
The Department for Enterprise will have to give a new answer to a Freedom of Information request after an appeal to the Island's information commissioner.
700 sign petition to keep Castletown street sweeper
A petition to give a street sweeper a permanent job in Castletown has hit more than 700 signatures in just three weeks.
Mystery after oily birds found in Peel
An Island charity says it hopes this will be the year authorities find the source of oil contaminating birds in the west of the Island.
Laxey move announced for well-known jewellers
A landmark business in Douglas says it's moving out of the capital after more than three decades.
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