O’Reilly goes down to the wire

Independent News & Media’s latest annual report shows how close bondholders have come to forcing a crisis at INM, writes Richard Curran

2nd May, 2009

Less than a year ago, incoming Independent News & Media chief executive Gavin O’Reilly referred to Denis O’Brien as ‘‘a gnat’’.

Last week, one of O’Brien’s three representatives on the board of the media group, Paul Connolly, was welcomed by O’Reilly to the press conference announcing details of the company’s 2008 financial results. It was quite a turnaround in what has been an extraordinary year for the...

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