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Thread: INM report losses: - Update O'Reilly steps down (ousted)

  1. #151
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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    Resignation at Dinnyprint



    Dublin 30th October 2015: Independent News & Media (INM) announces that Ms Lucy Gaffney has informed the board of the company of her resignation, effective today, as a director of INM. Ms Gaffney was elected to the board of INM as a non-executive director in March 2009 and has served on both the Nomination & Corporate Governance Committee and the Corporate Social Responsibility Committee.


    Mr Leslie Buckley, Chairman, INM said: "On behalf of the company and the board, I wish to express my sincere gratitude to Lucy Gaffney for her total dedication to the business since 2009. She has made a very valuable and positive contribution to INM, in terms of strategic input and exceptional guidance. She was hugely ambitious for INM during her time on the board."

    http://ise.ie/app/announcementDetails.aspx?ID=12562570
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  2. #152

    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    I believe Ms Gaffney is a long time associate and lieutenant of DOB. If I remember correctly, she is also on the board at Digicell and was an Esat board member as well

  3. #153
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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    Denis recently on making ends meet:

    " So my wife, when I talk to her about the cost of everything – the family, you know, the whole overheads – she just says, ‘Independent Newspapers’.”

    Ah sure, I know well what it's like. Wondering if lashing out on the price of a paper is reckless. Wistful about the days when you could get the news and a cup of coffee as a treat.
    Sure we are all feeling it.

    http://www.irishtimes.com/news/ireland/irish-news/miriam-lord-denis-o-brien-reveals-the-secrets-of-his-success-1.2412043

  4. #154
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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  5. #155
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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    ^ what's that about?
    "If you go far enough to either extreme of the political spectrum, Communist or fascist, you'll find hard-eyed men with guns who believe that anybody who doesn't think as they do should be incarcerated or exterminated. " - Jim Garrison, Former DA, New Orleans.

  6. #156
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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  7. #157
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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    more strange goings on

    Computer specialists that monitored the networks of Independent News & Media (INM) without the knowledge of the company’s board were paid by Denis O’Brien, According to claims in an affidavit filed with the High Court by the the state’s corporate watchdog.

    The Office of the Director of Corporate Enforcement (ODCE) uncovered emails containing a list of names which were to be searched for in the ‘data interrogation’,.

    But Mr Drennan, in his affidavit, writes:

    “During the course of the data interrogation, INM’s data appears to have been interrogated and searched against the names of various individuals, including, amongst others, a number of INM journalists and two senior counsel.”


    http://www.broadsheet.ie/2018/04/01/lifes-a-breach/

    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  8. #158
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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    INM sold


    The Irish newspaper group Independent News and Media (INM) has accepted a takeover bid from a Belgian publisher at twentieth of its stock market valuation little over a decade ago

    Antwerp-based Mediahuis unveiled an offer of €146m (£125m) for the publisher of the Irish Independent, the Republic’s biggest-selling daily title with a circulation of nearly 84,000. INM is also behind regional titles such as The Corkman and The Sligo Champion, and publishes The Belfast Telegraph in Northern Ireland.

    https://www.telegraph.co.uk/business...per-owner/amp/
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  9. #159
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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    Anyone know anything about the buyers and why the heck they want Irish newsmedia ?
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    Quote Originally Posted by C. Flower View Post
    Anyone know anything about the buyers and why the heck they want Irish newsmedia ?
    They want it to migrate to digital I imagine. EU newspapers in general and Irish in particular, are bad at digital. Still clinging to the old model. Mediahuis is a new outfit formed in 2013 from the merger of two Belgian outfits and they've been on a buying spree in Belgium and Holland. Cue lots of complaints about Flemish and Dutch words creeping in........

    As a general rule the most successful man in life is the man who has the best information.

  11. #161
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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    Quote Originally Posted by C. Flower View Post
    Anyone know anything about the buyers and why the heck they want Irish newsmedia ?
    Firesale. What with Digicel being such a star performer, and a 450 million Euro bath on the cost of acquiring the shares, it is probably a welcome exit for Dinny even though the shares might only be worth about 46 million now. A Soros front also bought some shares on news of the takeover. The Dindo's digital presence is a typically half-arsed effort at being the Daily Mail site without the T&A. Its Information Architecture sucks. From Twitter, some of the rationalisation has already begun.

    The Independent was lucky when the Irish Times screwed up its inital PPV/digital subcriptions operation as it basically handed over the Irish online news market to RTE and the Independent. The Irish Times has tried to implement a leaky paywall again. However, the big beast in the jungle is still RTE. Even if the Indo site goes behind a paywall, people will simply stick with the RTE site and even the breakingnews.ie sites. The overall quality of the content on the Dindo site had been declining in recent years and it faced a serious cannibalism problem with taking print content and putting it on the site for free. Normally there was a day or so of a delay to make the most of print sales but even those have been declining.

    Despite the bullsh!t from clueless people who think that they know about the online news business because they subscribe to a few news alert services, the Irish online news business is highly competitive and the way that people "consume" news has changed. Fewer people purchase a daily newspaper. When people do purchase a newspaper, it is often the Saturday or Sunday edition of a newspaper. Purchasing a daily newspaper simply cannot be justified when most of the news is available for free.

    In the 1990s, there was a shift away from news towards "opinion" masquerading as analysis. That's where the real rot set in for newspapers. Newspapers and publishing used to be a kind of "push" business where one publication was pushed to the readers. The publisher decided what the reader would read because the reader had to buy the newspaper to read the articles. The advent of the Web changed the model to a "pull" model where the reader, rather than the publisher decides what they will read. The shift to short attention span articles, listicles and opinionators has been an attept to retain some of the audience but it it isn't working.

    Irish newspapers have also been cutting jobs over the last few years. When a company gets taken over, the new owner always claims that things will continue as usual. They don't. As part of the due diligence process, sections of the business and employees that can be cut will have been identified. And they've already started with IN&M.

    Regards...jmcc

  12. #162
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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    Quote Originally Posted by jmcc View Post
    Firesale. What with Digicel being such a star performer, and a 450 million Euro bath on the cost of acquiring the shares, it is probably a welcome exit for Dinny even though the shares might only be worth about 46 million now. A Soros front also bought some shares on news of the takeover. The Dindo's digital presence is a typically half-arsed effort at being the Daily Mail site without the T&A. Its Information Architecture sucks. From Twitter, some of the rationalisation has already begun.

    The Independent was lucky when the Irish Times screwed up its inital PPV/digital subcriptions operation as it basically handed over the Irish online news market to RTE and the Independent. The Irish Times has tried to implement a leaky paywall again. However, the big beast in the jungle is still RTE. Even if the Indo site goes behind a paywall, people will simply stick with the RTE site and even the breakingnews.ie sites. The overall quality of the content on the Dindo site had been declining in recent years and it faced a serious cannibalism problem with taking print content and putting it on the site for free. Normally there was a day or so of a delay to make the most of print sales but even those have been declining.

    Despite the bullsh!t from clueless people who think that they know about the online news business because they subscribe to a few news alert services, the Irish online news business is highly competitive and the way that people "consume" news has changed. Fewer people purchase a daily newspaper. When people do purchase a newspaper, it is often the Saturday or Sunday edition of a newspaper. Purchasing a daily newspaper simply cannot be justified when most of the news is available for free.

    In the 1990s, there was a shift away from news towards "opinion" masquerading as analysis. That's where the real rot set in for newspapers. Newspapers and publishing used to be a kind of "push" business where one publication was pushed to the readers. The publisher decided what the reader would read because the reader had to buy the newspaper to read the articles. The advent of the Web changed the model to a "pull" model where the reader, rather than the publisher decides what they will read. The shift to short attention span articles, listicles and opinionators has been an attept to retain some of the audience but it it isn't working.

    Irish newspapers have also been cutting jobs over the last few years. When a company gets taken over, the new owner always claims that things will continue as usual. They don't. As part of the due diligence process, sections of the business and employees that can be cut will have been identified. And they've already started with IN&M.

    Regards...jmcc
    I can't imagine who you're referring to in your 3rd graf.......


    You wrote 5 grafs, over 16 lines and didn't answer either question CF asked.
    I did it in less than two lines......


    You're just recycling your old tropes. People have wised up to you. YaBoyYa!


    You're jealous that I can generate 1000 plus views each, with two consecutive posts in the thread on your hero Trump, while you continue to fixate on Hillary Clinton.
    There are internally contradictory elements to your post. No wonder you couldn't cut it as a journalist.
    As a general rule the most successful man in life is the man who has the best information.

  13. #163
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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    Quote Originally Posted by Count Bobulescu View Post
    You wrote 5 grafs, over 16 lines and didn't answer either question CF asked.
    I did it in less than two lines......
    First word. But then you are completely clueless when you are not plagiarising others and have to think for yourself.

    You simply don't understand what is happening and what this takeover means. The IN&M group has about 82 million Euro in cash on its balance sheet so the real cost of the takeover is in the region of 67 million or so. There are some parts of the business that can be closed or liquidated. There are also some employees who will lose their jobs. To an ignorant, bloviating windbag like you, that doesn't mean anything. Beyond the zelebrity opinionators there are ordinary workers with families who will find it difficult to get new jobs.

    IN&M is also facing potential legal action over an investigation into how the data of its journalists and others was accessed. The legal costs on that alone are going to be a multiple of what it has already spent on that case. Some estimates claim that IN&M has already spent about 5 million on the case.

    The main player here isn't Mediahuis. It is Denis O'Brien. He invested approximately 500 million Euro purchasing shares to oust O'Reilly as the largest shareholder in IN&M. He will be lucky to clear 46 million on this. His Digicel operation has not been doing well over the the last few years. He's a HRC supporter and a good friend of the Clintons. When Trump won, things went a bit pear-shaped. Digicel failed to float. The US market wasn't interested in the price and the voting structure. It has been selling off assets (communications towers) since then in an effort to deal with a massive debt issue. It also had to do a deal with bondholders (creditors) last year to roll over bonds. One of the ratings agencies called it a technical default. Part of the protected disclosure that triggered off some of the ODCE case had to do with an attempt to get IN&M to buy one of O'Brien's radio stations at more than IN&M's valuation.

    As a group, IN&M was once worth approximately 3 billion Euro. O'Brien spent approximately 500 million Euro acquiring his shareholding and will cash out for less than a tenth of that. In any takeover, a shareholder like O'Brien would be a problem as shareholders with enough shares could stop a complete takeover. With O'Brien, and Desmond, out of the picture having been bought off, a complete takeover could then proceed. Since O'Brien took over as largest shareholder, the publications have lost journalists and employees. The bursting of the property bubble also slashed advertising revenue for all newspapers in Ireland. Profits have also been declining for IN&M but they have been a problem for all newspaper companies. Its online presence isn't well designed and it would be easy for Mediahuis to dump it and integrate its content with better designed systems. That's most of the online side of IN&M gone. Mediahuis will also have examined the print and distribution side of the business for savings. IN&M is very much a distressed asset and this is a fire sale.

    But then you haven't a clue about this as all you do is plagiarise news alerts and play at being an online "journalist".

    Regards...jmcc

  14. #164
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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    Quote Originally Posted by jmcc View Post
    First word. But then you are completely clueless when you are not plagiarising others and have to think for yourself.

    You simply don't understand what is happening and what this takeover means. The IN&M group has about 82 million Euro in cash on its balance sheet so the real cost of the takeover is in the region of 67 million or so. There are some parts of the business that can be closed or liquidated. There are also some employees who will lose their jobs. To an ignorant, bloviating windbag like you, that doesn't mean anything. Beyond the zelebrity opinionators there are ordinary workers with families who will find it difficult to get new jobs.

    IN&M is also facing potential legal action over an investigation into how the data of its journalists and others was accessed. The legal costs on that alone are going to be a multiple of what it has already spent on that case. Some estimates claim that IN&M has already spent about 5 million on the case.

    The main player here isn't Mediahuis. It is Denis O'Brien. He invested approximately 500 million Euro purchasing shares to oust O'Reilly as the largest shareholder in IN&M. He will be lucky to clear 46 million on this. His Digicel operation has not been doing well over the the last few years. He's a HRC supporter and a good friend of the Clintons. When Trump won, things went a bit pear-shaped. Digicel failed to float. The US market wasn't interested in the price and the voting structure. It has been selling off assets (communications towers) since then in an effort to deal with a massive debt issue. It also had to do a deal with bondholders (creditors) last year to roll over bonds. One of the ratings agencies called it a technical default. Part of the protected disclosure that triggered off some of the ODCE case had to do with an attempt to get IN&M to buy one of O'Brien's radio stations at more than IN&M's valuation.

    As a group, IN&M was once worth approximately 3 billion Euro. O'Brien spent approximately 500 million Euro acquiring his shareholding and will cash out for less than a tenth of that. In any takeover, a shareholder like O'Brien would be a problem as shareholders with enough shares could stop a complete takeover. With O'Brien, and Desmond, out of the picture having been bought off, a complete takeover could then proceed. Since O'Brien took over as largest shareholder, the publications have lost journalists and employees. The bursting of the property bubble also slashed advertising revenue for all newspapers in Ireland. Profits have also been declining for IN&M but they have been a problem for all newspaper companies. Its online presence isn't well designed and it would be easy for Mediahuis to dump it and integrate its content with better designed systems. That's most of the online side of IN&M gone. Mediahuis will also have examined the print and distribution side of the business for savings. IN&M is very much a distressed asset and this is a fire sale.



    But then you haven't a clue about this as all you do is plagiarise news alerts and play at being an online "journalist".

    Regards...jmcc
    Oh the self important arrogance. You can't see the wood for the trees. Dinny is not the main player in INM anymore. He used to be. It's Mediahuis going forward. You say it's a firesale. Tell us something we don't know. 18 lines of text and no new information............windbag.
    As a general rule the most successful man in life is the man who has the best information.

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    Default Re: INM report losses: - Update O'Reilly steps down (ousted)

    Quote Originally Posted by Count Bobulescu View Post
    Oh the self important arrogance.
    You probably get that a lot from people when you try to do your usual cut and paste plagiarism. You haven't a clue about the Irish media and are completely ignorant of the politics of the situation. To explain it in simple terms, IN&M under O'Reilly was pro-FF. IN&M under O'Brien was pro-FG. Taking a player like IN&M out of the Irish political landscape changes the dynamic for FG. You probably don't understand this either but FG went from having its best election result in the 2011 General Election to having one of its worst in the 2016. It is currently in a minority coalition government that rules with the permission of FF due to a Confidence and Supply agreement. If Mediahuis decides that a less partisan IN&M is important, then a lot of the favourable publicity for FG will disappear and FF could end up accidentally being the largest party after the next GE. The next Irish GE may be later this year but you probably haven't got any news alert e-mails yet.

    You are obviously completely ignorant of what is going on with IN&M and how Digicel's poor performance is intrisically linked to events and don't understand why taking O'Brien out of the equation was important for any takeover. All you do is cut and paste from news alert e-mails without ever understanding their content. I'm sure that it makes you feel important when you are playing at being an online "journalist" but the reality is that you haven't a clue about what has happened to IN&M and what is about to happen to it and, by extension, Irish politics.
    Last edited by jmcc; 09-05-2019 at 02:23 PM.

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