War of attrition

13 years and €500 million later, Denis O’Brien bows out of Independent News & Media, the scene of his bitter battle for control with the O’Reilly family

Independent House and, left, Dermot Desmond; right, Denis O’Brien: his dealings with the company have cost him dearlyPictures: Tony Gavin/Fergal Phillips/Court Courts

In his biography of Tony O’Reilly, the journalist and broadcaster Matt Cooper recounts the details of a fractious phone call in 2009 between the media tycoon’s son Gavin, the chief executive of Independent News & Media, and Denis O’Brien. The day before the call, INM, then heavily in debt, agreed to sell off part of the business to raise cash. The decision was taken despite objections by O’Brien’s representatives on the INM board ...