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Fairly entertaining public spat heated up today.
O'Brien now has 22% of INM shares while the O'Reilly clan & other board members hold 29%.
Operations Manager Gavin O'Reilly published private letters between himself & Denis O'Brien several years old & his interview on Prime Time tonight showed was definitely a personal issue now. He defended his fathers chairmanship of the board by asking if O'Brien was ageist. :eek:
I despise both O'Reilly and O'Brien equally.
I remember hearing recently that O'Reilly senior was seriously ill. Anybody know anymore on this? Maybe that's why O'Brien's concerned about O'Reilly senior being in charge. Anyone would you want a crook like O'Reilly in charge of a company you own 22% of?
Neither of them are likely about different reasons. Suggestions this started after O'Brien lost out on eircom takeover. Whatever the reason O'Brien not stupid enough to waster millions on a personal vendetta.
Paying for Trappatoni??? There has to be something there.Quote:
Originally Posted by pete
Agreed. A pox on both their houses.Quote:
Originally Posted by superfrank
The reaction of the INM stable to his paying for Trappatoni was a result of the spat. The bad blood goes back years, and O'Briens been buying up shares for a long time before the Trappatoni deal, and asking hard questions of the INM board and it's relationship with the O'Reilly's. Stupid of Delaney to get the FAI caught in the middle of it.Quote:
Originally Posted by superfrank
I've no time for either, but INM have more impact on the news media in this country so go on O'Brien in this case.
but when you take into account Darlington Denis' radio investments his share of total media (and with it his ability to form opinions) is arguably much higher.Quote:
Originally Posted by Macy
Classic closing stable door after horse has bolted approach by Government to request a review of cross-ownership in the media at the weekend with DOB approaching 25% shareholding in INM.
Competition authority will not consider radio advertising as same market as newspapers.
In terms of influence on how news is reported O'Brien is a small time player as only Newstalk & to lesser extent Today FM have any impact there. He could have 100 Spin FMs & would make no difference.
It is amazing that INM controls so much of the daily & Sunday papers. Only by including UK Irish versions does it look a bit smaller.
I have no doubt INM is run like a private kingdom for the O'Reilly clan. I was surprised they only control 29% of the shares including other board members. What other "public company" has daddy as Chairman & the son as Operations Manager. Could be argued O'Brien is the largest individual shareholder now.
As I understand it, the Government's request has nothing to do with advertising share, it is more to do with editorial control, cross selling and pure competition issues> I believe that in the past the Competitions authority has said it doesn't have the remit or expertise to conduct such a review.Quote:
Originally Posted by pete
Ask yourself who it suits for the Government to now suddenly take and interest, in light of recent share purchases, and then look at the editorial policy of the group involved? Only with recent, hostile, share purchases has the Government become concerned...Quote:
Originally Posted by OneRedArmy