Independent News & Media Group
 |
|
| Public | |
| Traded as | : IPDC : |
| Industry | Media |
| Founded | Dublin, Ireland (1904) by William Martin Murphy |
| Headquarters | Dublin, Ireland |
|
Key people
|
Robert Pitt, CEO, Leslie Buckley, Chairman |
| Products | Newspapers, magazines, radio, education and other media activities. |
| Revenue | € 318.7 million (2014) |
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Number of employees
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Approx. 1,000 (2014) |
| Website | www |
Independent News & Media plc (INM) is a media organisation based in Dublin, Ireland. The company owns 4 national dailies, three Sunday newspapers and 13 weekly regional newspapers. According to The Guardian, it has "long been at the centre of controversy, due to the journalistic output of its main titles - the Irish Independent (the Indo) and the Sunday Independent (the Sindo)."
The INM group of companies was dominated by Tony O'Reilly and his family between 1973 and 2012. Denis O'Brien now controls Independent News & Media, as acknowledged by the company's own newspapers and employees.
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 "A" shares of the company from the Murphy and Chance families, and was later forced to bid for the "B" (non-voting) shares. The company was later floated on the and .
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.
O'Reilly was CEO until early 2009, one of his sons, formerly COO, Gavin O'Reilly, became CEO in early 2009, and two others were non-executive directors for many years. O'Reilly himself resigned as CEO on 19 April 2012 and was replaced by Vincent Crowley. O'Reilly had come under pressure in recent months from two of INM's largest shareholders, billionaire Denis O'Brien and financier Dermot Desmond.
As of May 2012, Irish entrepreneur Denis O'Brien holds a 29.9% stake in the company, making him the largest shareholder. This compares to O'Reilly's family stake of around 13% (June 2012). 5% of the holding company is held by Clear Channel Communications, transferred in return for control of a South African outdoor advertising firm.
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Wikipedia