End of the O’Reilly era

More ominous newspaper news…“We have no plans to sell – at this stage” says Gavin O’Reilly, announced this morning as his father’s successor as CEO of Independent News and Media, the owners of the creaking media empire including the Independent in London, the Irish Independent in Dublin and its tiring cash cow the Belfast Telegraph. Father Tony ( a.k.a. Sir Anthony) has come under tremendous pressure to wrap up his feud with telecoms tycoon Denis O’Brien who had fiercely opposed Sir Anthony’s strategy of selling off profitable bits of the empire to shore up the Independent. Is it a truce or a final defeat for the O’Reillys as two family members step down from the board and three O’Brien nominees take their place? While the Bel Tel’s position is probably as close to safe as it gets in these turbulent days, strategy for the group is now in the melting pot. Not along ago, Gavin called O’Brien ” a gnat.” o longer. From the Guardian report

O’Reilly is burying the hatched with arch-rival telecoms billionaire Denis O’Brien who will be given three seats on a slimmed down board of directors. The move is designed to help INM out of the financial abyss it is facing – its share price continues to be battered on the Dublin stock exchange where it closed yesterday at just 10cents compared to a year high of E2.43.. Tony O’Reilly remains the largest shareholder.

The INM group seems to have been caught in the hop, with the Independent carrying the Press Association’s report rather than their own story. At least the Indy uses one of their own by lines, presumably because of the Dublin newsbreak early this morning.

  • Dave

    [i]Not along ago, Gavin called O’Brien ” a gnat.”[/i]

    Yes, because being the boss’ son whose only ‘achievement’ is based on riding along on daddy’s coattails qualifies him to pass judgement on the stature of a self-made billionaire like O’Brien. What an oxnnobious little tosspot.

    Don’t mention Wtaterford Crystal or Wedgewood…

  • I wouldn’t describe the turmoil that ‘sir Anthony’ is experiencing as “..omnious..”. I would describe it as very satisfying.
    He could always earn a crust on the speaker circuit, lecturing despotic leaders on the benefits of large scale disinformation and right-wing fear inducement!

  • LURIG

    You don’t like to see people losing their jobs but many will cry no tears if O’Reily’s empire comes crashing down. His newspapers played a very negative role in the Peace Process undermining Sinn Fein and the SDLP at every turn. Their demonizing of John Hume was particularly nauseating and treatment of the Northern Nationalist community quite disgraceful. It is very satisfying to see O’Reilly and the odious pompous revisionist ultra Unionists who write for his rags squirm. The crap that they pour out would fill a sewer works. What goes around comes around. It will be quite amusing to see the triple barreled named tits join the dole queue.

  • j6480

    suzanne breen will soon be looking for a job, i’d expect………..

  • Scaramoosh

    O’Brien is the only person left standing, with pockets deep enough, to rescue the sinking ship (he has already taken a big hit on his investment in the paper). This article from the Guardian puts his personal wealth at $2.2bn (£1.56bn).

    http://www.guardian.co.uk/media/2009/mar/13/denis-obrien-profile

    There is little or no chance of the paper dying a death; indeed, O’Brien is allegedly keen to exploit the brand more thoroughly in the digital arena.

  • Modernist

    I personally am glad to see AOR go. Good riddance . I’d also be glad to see the back of the likes of Kevin Myers. It is lazy form journalism that relys on controvery to sell papers

  • Even after Sir Anto is gone we’ll still be stuck with a raft of dedications left to his honour designed to keep his name in perpetual memory, not least the Sir Anthony O’Reilly library at Queens and the new Opera House in Wexford (most of which was funded by the taxpayer). It’s a disgrace that such institutions are being used to assuage some billionaire’s personal vanity, especially when you consider that there are far more deserving people that could be so honoured.

  • Jimmy Sands

    If anklebiting ever becomes an olympic event we have a guaranteed gold. He’s stepping down at age 73 after a remarkable career. Good luck to him.

  • Objectivist

    Hopefully the transition from the O’Reilly to the O’Brien era will lead to RDE and co being thrown out on their asses and something approaching impartiality vis-a-vis the unionist/nationalist conflict coming to the fore.

  • O’Reilly

    OH! Really?

  • dewi

    He had a wonderful sidestep.

  • Skuttled

    It’s just a shame the Cruiser didn’t live to see it.
    The first thing O’Brien should do is give the place a good wash.

  • “negative role in the Peace Process undermining Sinn Fein”

    Will someone please write a book on Sinn Feinisms?”