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Irish Billionaires Wrestle over Newspaper Publisher's Future

News, 14 January 2008


DUBLIN: "Dissident shareholder" Denis O'Brien (pictured), who has been steadily increasing his stake in the Irish-headquartered Independent News & Media group, has upped the ante again to 16.4%.

The telecoms billionaire holds the second largest slice in the publisher of the UK's Independent and Independent on Sunday. His compatriot, Sir Tony O'Reilly, has the biggest stake of 26.6%.

O'Brien has been applying pressure to sell the loss making Independent titles, a move fiercely resisted by the INM board and ceo O'Reilly.

A spokesman for the company said the papers remain "substantial calling cards" in INM's quest to expand its operations in South Africa and India, where it already has a substantial foothold.

Data sourced from MediaGuardian.co.uk; additional content by WARC staff