Independent News & Media Share Discussion Threads

[caveat_emptor] 01/3/2013 04:21

Luke Byrne – 28 February 2013

IT'S already the biggest, most authoritative and most popular online news resource in the country.


But readers of independent.ie are in for a new treat with a celebrity guest editor lined up to take the hot seat.

Speaking at an event marking the launch of the new online operation, Stephen Rae, editor of the Irish Independent and independent.ie, announced the special guest.

Although the name is being kept under wraps for now, readers will find out the identity of the guest editor within the next month.

"I think it's probably the biggest celebrity in the country at the moment," said Joe Webb, chief executive of Independent News and Media (INM) Ireland.

The new online project went live two weeks ago following 16 months of work.

Speaking about the launch, Mr Webb said: "We're very pleased, we've had a very strong reaction to it.

"It's one of numerous projects that's we have in the pipeline and there's lots more exciting stuff coming."

Ian Byrne, head of Independent Digital, said that the website design had benefited from engagement with site users and consumers.

"On February 6, we switched over 18 national and local newspapers and websites, which is the largest platform of its type here in Ireland," he said.

"We've had really good feedback from consumers, overwhelmingly it's been positive," Mr Byrne said.
- See more at:

[caveat_emptor] 01/3/2013 04:20

Shareholders realise that a turnaround involves pain.....
They've seen their shares collapse from
POUNDS to PENCE?

That's pain!!!

[lbo] 24/2/2013 17:01

Now that we've bailed out and nationalised the banking sector, next on the list is the media sector



We own, or part-own some of the eight banks that together have lent €400m-plus to IN&M. And given IN&M is balance sheet insolvent to the tune of €200m at 30 June 2012 and probably closer to €300m insolvent now, we are probably looking at taking a hit, though of course we could demand a share of the equity in IN&M which is worth, ahem, €16m.

[caveat_emptor] 24/2/2013 16:49

Some people get their kicks by kicking everything.....

[lbo] 21/2/2013 14:56

Talk is the Banks are going to have to write off some of the €400m INM loans in a restructuring. Looks like the current equity is worthless and the lenders are even going to take a circa €100m loss on its debt. DYOR

[caveat_emptor] 21/2/2013 08:48

Despite the APN results this morning,
there's still a lot to like about that company..

[caveat_emptor] 21/2/2013 08:41

Can the pain experienced in restructuring INM
become contagious and spread to other
players in the Irish media?

[caveat_emptor] 21/2/2013 08:35

Peter Flanagan – 21 February 2013

INDEPENDENT News & Media (INM) chairman Leslie Buckley last night said the company is currently in "constructive and ongoing discussions" with its banks and is committed to securing a "consensual solution" on this basis.

Mr Buckley was responding to a newspaper report suggesting there may be political opposition to any restructuring of the company's debts.

In an article which appeared under the headline 'Unease in Government over INM debt-relief moves', the 'Irish Times' quoted "government sources" as being "apprehensive" about the potential restructuring.

However, in a statement, Mr Buckley said the article was "sorely lacking in context".

"INM is an operationally strong and well-managed company yet its survival is threatened by a legacy of excessive borrowings and poor decisions . . . all of which pre-date the current board," he said.

"In my view, if debt sustainability is a valid objective for the State, for households and for bailed-out banks, it is also a legitimate aspiration for a corporate entity that employs over 1,100 staff on this island.

"On the assumption that a financial institution would only provide debt relief to enhance the recovery prospects of outstanding loans, it follows that any decisions in this regard would be based on pragmatic and operational grounds as to do otherwise would be inimical to the commercial interests of lenders," he added.

Mr Buckley said that were burden sharing to occur, "on this basis, and in circumstances where equity holders have already incurred losses exceeding 90pc, that is a matter for negotiation between INM and its banks".

[caveat_emptor] 21/2/2013 05:21

Fairness

Clause seven deals with "fairness" – "Journalists will strive to be fair in affording individuals or organisations the right of pre-publication response," it states. "A decision not to afford such a right of response will only be taken with the written approval of the editor or designated editorial executive."

It then adds: "Sustained or repeated adversarial editorial material concerning individuals or organisations will only be maintained on the basis of justification in the public interest with the written approval of the managing editor."

INM's managing editor is Michael Denieffe, a long serving executive with the group.

In a statement about the new editorial code, INM said: "This charter puts structures in place to ensure editorial fairness; nothing more and nothing less."

Denis O'Brien owns just under 30 per cent of INM. It is known that Mr O'Brien has been unhappy about coverage of his business affairs by the Sunday Independent.

In an interview with The Irish Times in April 2012, Mr O'Brien's long-time associate Lesley Buckley, who at that time had been ousted from the INM board, described as "appalling" the negative coverage of Mr O'Brien in the Sunday Independent of April 1st, when multiple negative stories about the entrepreneur were published.

"It's very clearly part of a campaign against Denis O'Brien," Mr Buckley said.

The interview was conducted four months before Mr Buckley became INM's chairman.

The Sunday Independent has continued to write negatively about Mr O'Brien since he ousted former chairman James Osborne at the company's AGM in June 2012. Mr Buckley was appointed as chairman.

The charter applies to those involved in INM's newspapers, periodicals, and online and digital platforms in Ireland.

[caveat_emptor] 20/2/2013 08:54

Irish Times reports the brutal truth of what must be done
to turn this around.

[caveat_emptor] 19/2/2013 18:22

Do you ever post "good" news?

[caveat_emptor] 18/2/2013 08:32

Directors resign at APN

"....the Chairman, CEO and three independent directors had resigned, effective on February 19th.........."
Davy this morning.

[caveat_emptor] 18/2/2013 08:30

South African cash to impact current net debt situation.

[caveat_emptor] 18/2/2013 07:39

In the midst of crisis.......

South African assets sold for SA-2billion.

[caveat_emptor] 17/2/2013 09:21

Tom Lyons – 17 February 2013
Independent

SIR Anthony O'Reilly was one of the beneficiaries of the $23bn sale of Heinz – the bean-maker he once led – to Warren Buffett and 3G Capital.

[caveat_emptor] 17/2/2013 09:19

If Crowley succeeds in restructuring for the benefit of workers, shareholders
and pensioners it will certainly be a first.

[hermana3] 16/2/2013 12:23

Charlie,they have better places than here to put beanz dough. This is donald ducked

[caveat_emptor] 16/2/2013 12:08

Out with the lot of them....off with their heads!!!

[caveat_emptor] 15/2/2013 08:07

De Paper not very happy down under...

[caveat_emptor] 15/2/2013 08:02

Talk about Dobbie at your peril, and if you do, be sure your facts are right.

Better still, best not to talk about him at all!!!