Tuesday April 7, 2020

Writing was on the wall for O’Reilly

Despite increased profits due to cost-cutting, INM’s chief executive never properly dealt with its heavy debt.

14th March, 2009

There was no single reason why Tony O’Reilly, chief executive of Independent News & Media ( INM), had to go. The seeds of the problems at the group which culminated in the exit of O’Reilly, who is to step aside in May, and nine other directors from the board were sown over a long period of time. It is almost a decade since INM’s last major acquisition, when it paid £350 million (€500 million at...

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