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hi lucan. I just had a quick look at APN's share price on the asx. Doubled in the last 12 months. Am i right in saying that INM have around 18% stake in this? I've held shares here for the last years, bought in twice so average is where we are at now. Are results due here end of august? Hard to know what they will contain
good news needed here
Irish Times Business ‏@IrishTimesBiz · 10m (INM) Independent News & Media swaps PwC for KPMG and slashes audit fees:
A couple of papers today have a small feature on Denis commenting on his inm ownership. His " mini Afghanistan" is now preforming well and he expects to get his money back in 10 years. I haven't seen any comments from him on inm in a long time. The fact that it is widely reported on is good. It might spark a bit of interest from investors and move this on a bit.
40 jobs on offer in inm if anyone is interested. You need to be good at the digital stuff though. Its a big push in the only real avenue of future growth. Glad to see a move forward even if its going to be a long haul.
I had a read of Mr Pitts CV. It seems obvious (to me at least) that he got the job on the basis of a shortage of quality candidates. Although, perhaps his digital experience, whatever that means, will be of assistance, its hard to see how not having spent five minutes in the newspaper business can be anything but a negative. I suspect that the Irish Independent is going to head even further downmarket from here, and thats really saying something. As it stands, independent.ie and The Sunday Independent are dreadful. I do think that this share is worth a LOT more than it is priced at today though. People like dreadful.
I hoped we were through that faze at this stage. He has some digital experience as well but not an expert. I hope growth will be his main concern.
sounds like a cost controller primarily, no harm in that, except that's the financial controller's job
Not really a top pick but I suppose (hope) DoB will pull the strings anyway.
Will be interesting to see how DOB handles a strike threat, if it comes to that. I doubt if the journalists have the gumption, considering the lack of response to a recent dismissal, phasing out of sub editors etc.
SBP reports today that staff in sindo, indo and hearld are considering strike action over pay and conditions. 9 million of cost savings pencilled in for this year.
http://www.rte.ie/news/business/2014/0627/627030-inm-education-barry/ No money mentioned but certainly no real use to the company so makes sence to sell it off.
Can't see it, if that was any way foreseen , restructuring would have failed ....unlimited potential here, all it needs is economic growth, has untied its debt burden before interest rate rises strike...... Good luck
could be a pyrrhic victory
We have witness one of the greatest vendettas in history and when the line is drawn, the victor will rise .
No 6 months to sell so that's not good. Surprised it has managed to hang in at 16c this week. Aib may be willing to off load his 5% at a discounted price for a quick sale now though.
another 21 million shares traded in dublin today at 15 cents. End of day price hasn't shifted, bizarre.
No reason for O'R to hold the Indo shares at this stage, may as well reduce his loans a bit. The real question is what happens at Providence, where the O'Reilly stake is much higher and more significant. This presumably is why he wants to hang on for 6 months, until the deal is done.
Just so. 17 million sold in Dublin this morning at 15 cents. That would be a bit over 1%. O'Reilly had about 5% at last report. Of course it may be someone else getting in first.
Looks like selling in dublin already.
Still has just under 5%, to be sold at discretion of banks. Let's hope a white knight is standing by.
http://www.independent.ie/irish-news/courts/aib-gets-22m-order-against-broke-anthony-oreilly-30378284.html According to this he still has some shares but they will be sold off to pay his loans.
Interesting. The big business story here today is the Shire takeover offer, running since this morning. (Shire is Irish registered and has employees here). Indo website has the bare bones, just a line and a photo, no background or analysis. Times hasn't got the story at all, so far as I can see. Not much incentive there to pay for online access. Now if they had a decent analysis piece online 18 hours before it turns up in print, that would be an incentive. Of course if you haven't even got the story ...
If a newspaper's online presence is attractive, and if it is free, it will attract viewers, and that should enable it to generate advertising income. That is the only way it will work, i.m.o. A paywall will drive away viewers, and there goes your advertising income. I think the I.T.'s plans are daft. They can't even run the archive efficiently - have you tried using it recently? Last twice I tried, it swallowed my money and refused to deliver material which I know was there.
http://www.irishtimes.com/business/sectors/state-rears-up-on-o-reilly-firm-1.1830210 When it rains it pours...