Blurred Keys
An Irish media blog
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September 9th, 2007Ireland, Irish Media, Irish newspapers, Media, irishblogs
The Independent on Sunday, Independent News & Media’s London-based Sunday title, is still seeing a drop in sales even after a recent re-design.While bulk and foreign sale were up, the paper overall is continuing to slide. The Sindy’s re-launched as a single section paper appears to have failed to stall the decline.
Propped upAs with the Sunday Tribune here, the Independent stable in the UK is being propped up by IN&M. The Irish Times points out the London publications have been "consistently loss-making" since IN&M bought them, loosing €9 million last year alone.
Pressure to sell
Irish businessman and Indo shareholder, Denis O’Brien, recently put pressure on the company to cut the London titles lose (sub reqd) while also bring up the topic of standards of corporate
governance.The Irish Times has reported just a week ago (sub reqd) that Merrion Stockbrokers have downgraded IN&M from ‘buy’ to ‘hold’. Also in the Times news briefs are nearly daily reports of share buy backs, IN&M is continuing to buy back its own shares in an apparent attempt to stall O’Brien’s advances on the group.
MORE: Independent titles suffer as The Times prospers
Tags: 'buy' to 'hold', buy backs, consistently loss-making, corporate governance, Denis O'Brien, IN&M, Independent News & Media, Indo group, Indo News & Media, Ireland, Irish businessman, Irish Media, Irish newspapers, irishblogs, London publications, London titles, Media, Merrion Stockbrokers, O'Brien, share, shareholder, Sindy, Sir Tony O’Reilly, standards, Sunday title, Sunday Tribune, the Independent, The Independent on Sunday, the London Independent
