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    • Sleeping with the enemy: INM looking to old foes for help?

    Tuesday, March 10th, 2009

    With Tony O’Reilly’s Independent News & Media facing financial difficulty, it seems as if the company is seeking out every avenue to turn things around - even if that means teaming up with its most bitter rival.

    Roy Greenslade had an interesting, and arguable even bizarre, story recently from the Wall Street Journal about Independent News & Media.

    According to the piece, O’Reilly had approached Rupert Murdoch / NewsCorp last year to ask for investment in his media company. Murdoch turned him down and the extent of the financial troubles facing IN&M has become apparent publicly since then.

    If the claim is true - and bear in mind the Wall Street Journal is now in Murdoch’s stable so it may not be - it is not a good sign for the company’s stability. If it is in such a bad state financially that it turned to its biggest rival for help, giving Murdoch an ego-boost and market advantage in the process, things must be very grim.

    Of course that story may be completely false - what is in no doubt is the existence of talks between INM, The Irish Times and Associated Newspapers about a merger of their respective Dublin freesheets; Herald AM and Metro Ireland.

    Assuming this happens - and talks are said to be at an advanced stage - it will be the first time INM and The Irish Times has co-operated at any stage in the history of Irish print media. As Markham points out, there will be serious staffing connotations for workers at both newspapers but from a larger industry point of view it also indicates that INM can no longer afford to maintain vanity projects or loss-leaders in Ireland.

    The Sunday Independent may dress it up whatever way it likes but The Irish Times isn’t the only newspaper suffering as a result of reckless spending.

    Posted in Irish Media, International Media, Print, Business | Trackback | Share This | Top Of Page

    4 Responses to “Sleeping with the enemy: INM looking to old foes for help?”

    1. simon Says:
      March 10th, 2009 at 2:54 pm

      The Sunday Independent may dress it up whatever way it likes but The Irish Times is the only newspaper suffering as a result of reckless spending.
      You meant to say that?

    2. Adam Says:
      March 10th, 2009 at 2:58 pm

      No, well spotted and thanks.

    3. connemara accommodation Says:
      March 12th, 2009 at 5:32 am

      got what you meant to say, anyways thanks.

    4. John Says:
      April 9th, 2009 at 2:35 pm

      If we could get peace talks going in the North, then anything is possible.

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