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March 31, 2008

Independent News and Media’s ‘dissident shareholder’ condemned

By Dominic wireposts

Chief operating officer of Independent News and Media Gavin O’Reilly has condemned the actions of Irish telecoms billionaire Denis O’Brien who no has a 22.15 per cent stake compared to chairman Anthony O’Reilly’s 27.94 per cent holding.

Gavin O’Reilly said of O’Brien: “He’s run around the place throwing hand grenades and hid behind his PR people.”

INM’s results revealed that losses at the Independent and Independent on Sunday eased in 2007 – though no specific figures for these titles were provided,

The UK division, which includes the Belfast Telegraph, reported operating profit of E15.1 million  and UK revenue up 18.3 per cent to E268.1 million.

 

 

 

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