Independent News & Media
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| Independent News and Media plc | |
|---|---|
| Type | Public, ISE & LSE |
| Founded |  Dublin, Ireland (1904) |
| Headquarters | Dublin, Ireland |
| Key people | Tony O'Reilly, CEO, Dr. Brian Hillery Chairman |
| Industry | Media |
| Products | Newspapers, magazines, radio, other media activities. |
| Revenue | EUR 1900m (FY 2007) |
| Employees | 10,800 (2004) |
| Website | www.inmplc.com |
Independent News & Media plc (INM) is a media organisation based in Dublin, Ireland with interests worldwide. The company owns over 200 print titles, more than 130 radio stations, over 100 commercial websites and many billboard locations, and is the leading press player in multiple countries. The INM group of companies has been dominated by Tony O'Reilly|, today CEO, and his family (one of his sons is COO) since the 1970's.
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[edit] UK and Ireland
The group owns a number of national newspapers in Ireland: the Evening Herald, Irish Independent, Sunday Independent, Sunday World and the Irish Daily Star. The chief executive is Denis O'Brien, and the chairman is Brian Hillery, former Fianna Fáil politician and now a governor of the Central Bank of Ireland.
Some INM titles, especially the Sunday Independent and Irish Independent, are perceived to have a pro-British slant by republicans, and also by a growing number of their ordinary readership who are unhappy with the range and frequency of news stories and opinion columns emanating from British titles such as The Daily Telegraph[citation needed].
The group owns a 29.9% stake in the Sunday Tribune, over which it has considerable influence.
In the UK the company publishes The Independent and the Independent on Sunday. The company also owns the Belfast Telegraph group which publishes the Belfast Telegraph, Ireland's Saturday Night, Sunday Life and Ads for Free.
During 2007, INM will open a new full-colour Goss printing press facility in Newry, Co. Down; it also has a major printing facility at Citywest in Dublin. [1]
[edit] South Africa
The group is the largest newspaper publisher in South Africa, owning 14 newspapers including The Star and Pretoria News in Gauteng, the Daily Voice, Cape Times, Cape Argus and Weekend Argus in Cape Town, the The Mercury, Post, Isolezwe, Daily Tribune, Sunday Tribune and Independent on Saturday in Durban, as well as the national Sunday Independent and 13 community newspapers in Cape Town. The group's titles account for 48% of the total advertising spend in paid newspapers[1], 31% of all newspapers sold in the country, and 58% of the English language market.
[edit] Australia and New Zealand
The company owns a 40.3% stake in APN News and Media Limited, a large newspaper publisher in Australia and New Zealand, which owns, for example, the New Zealand Herald, and is listed on the Australian Securities Exchange.
On 12 February 2007, INM announced that the board of APN had recommended an all-cash revised offer of A$ 6.10 per share for the entire issued share capital of APN.[2] The subsequent bid to take APN News & Media Ltd private in May 2007 was unsuccessful.
[edit] India
INM has also entered into the Indian market, purchasing 20% of Dainik Jagran, the publishing company behind India's best-selling paper. This market has been identified by INM as being a key element of its move into non-English speaking media markets with huge growth opportunities and potential for advancement. Since the initial investment INM has deepened its involvement by buying 20% of the radio business of Dainik Jagran. The intention is to establish 8 radio stations in the so-called 'Hindi Belt'.
[edit] Other interests
INM also held stakes in the Unison ISP and the iTouch electronic payments and premium rate telecoms operator, the controlling stake in the latter later being sold to a Japanese firm.
[edit] Cable
The company formerly held a 50% stake in Chorus Communications, the second largest cable television and MMDS operator in Ireland, having acquired this with a merger between Cable Management Ireland, and their own Irish Multichannel . However this was sold in 2004.
[edit] History
The company was formed as Independent Newspapers Limited in 1904 by William Martin Murphy, as the publisher of the Irish Independent. In 1973 Sir Tony O'Reilly acquired 100% of the share capital of the company. The company was later floated on the Irish Stock Exchange and London Stock Exchange. The group expanded overseas, acquiring interests in the UK, Australia, New Zealand, and South Africa. In 1999, the company name was changed to Independent News and Media plc. While the O'Reilly family still have a controlling interest (over 29% at March 2008), their shareholding is being diluted and a significant shareholding is being built by Irish entrepreneur, Denis O'Brien (over 25% at March 2008).
[edit] See also
[edit] External links
[edit] References
- ^ Independent News & Media PLC (2006-09-30). Interim Report 2006 (pdf). Retrieved on 2007-03-03.
- ^ Independent News & Media PLC (2007-02-12). APN BOARD RECOMMENDS OFFER OF A$6.10 PER SHARE BY INM LED GROUP (pdf). Retrieved on 2007-03-03.
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