Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Is Independent News & Media preparing to enter examinership?

  • 06-07-2009 10:59am
    #1
    mike65
    Closed Accounts Posts: 88,972 ✭✭✭✭


    Guardian article

    SBP article

    All to do with the ongoing ding-dong between the elder lemon Sir Anthony (okay son Gavin is in charge but no doubt dad is directing traffic) and the little squirt (O'Brien). IMG owe a 200 million euro bond overdue since May then June 24th after an extention was not met

    INM is geared up its eyeballs and no matter what, looks like having to retreat from its pretence of being a true international player. The London Independent must be very much for the chop.


Comments

  • #2
    Aidric
    Registered Users, Registered Users 2 Posts: 13,591 ✭✭✭✭Aidric


    Firsly I find it strange that you would refer to one of Ireland's most successful and enterprising businessmen as a lemon.
    Secondly he has till July 24th to reach agreement with bondholders, not June 24th.

    For the record I'm not an Independent Newspapers apologist, the direction their publications have taken in recent years has been poor and in bad taste a lot of the time.


  • #3
    jmcc
    Registered Users, Registered Users 2 Posts: 7,521 ✭✭✭jmcc


    The Sunday Tribune might be the easiest cut. The London paper is too much of a prestige publication.

    Regards...jmcc


  • #4
    Pen1987
    Closed Accounts Posts: 870 ✭✭✭Pen1987


    Cutting the Tribune would do almost nothing to their financial situation.


  • #5
    trad
    Closed Accounts Posts: 2,696 ✭✭✭trad


    Aidric wrote: »
    Firsly I find it strange that you would refer to one of Ireland's most successful and enterprising businessmen as a lemon.
    Secondly he has till July 24th to reach agreement with bondholders, not June 24th.

    How can you call someone who goes by the title "sir" to be Irish?
    Surely he is / was a successful British businessman


  • #6
    IRE60
    Registered Users, Registered Users 2 Posts: 1,885 ✭✭✭IRE60


    Pen1987 wrote: »
    Cutting the Tribune would do almost nothing to their financial situation.

    I suggested it was loosing 9m a year! Surly that has to do something - plus the 'value' the titles would have been written down at this point.


  • Advertisement
  • #7
    IRE60
    Registered Users, Registered Users 2 Posts: 1,885 ✭✭✭IRE60


    Pen1987 wrote: »
    Cutting the Tribune would do almost nothing to their financial situation.

    Its suggested it was loosing 9m a year! That saving has to do something for the accounts and, more importantly, for the public face of the company with its bankers. Who wants to lend them money so that they can throw it down the black hole that is the Tribune.


  • #8
    Pen1987
    Closed Accounts Posts: 870 ✭✭✭Pen1987


    €9m a year is small fry when you look at the losses the company as a whole is making.


  • #9
    IRE60
    Registered Users, Registered Users 2 Posts: 1,885 ✭✭✭IRE60


    I'd rather have the 9m than not have it. Also, the real pressure is cash flow, not t/o.
    They turned 1.4bl last year (operating profit of close to 300m before exceptional items) and still had to seek 15m recently for working capital!
    Get rid of Trib and a few of the other satellites that are drawing on the cash flow and it would be a start. More importantly, have a strategy regarding digital that's not simply recycling the papers in a digital format. And Be innovative!


Advertisement