Independent News & Media PLC #INM shares up 27 %
— Paul Sommerville (@PaulSommerville) April 4, 2019
….INM’s chief executive Michael Doorly had raised the prospect of a sale in meetings with the Dublin investment community this week.
Sources were saying German media group Axel Springer had taken a look at INM in the past, while Norwegian group Schibsted has also been rumoured to have an interest.
INM confirms possible takeover approach (RTÉ)
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The existing share price which values the group at €100 million makes no sense at all with €80 million of cash and generating a net profit after tax of €9 million last year (after redundancy and costs of the corporate watchdog investigation). However the share price does make sense if you think INM is going to be hit with tens of millions in damages which might be claimed by those whose data was hacked. Also, a business whose circulation and advertising is declining by 5-10% a year and whose digital income has peaked and is in decline, needs a new direction.
The IT’s media person Laura had an interesting analysis of INM’s financial results for 2018.
https://www.irishtimes.com/business/media-and-marketing/awkward-times-for-inm-as-it-plots-digital-future-1.3845991
She appears to have overlooked the likely imminent tie-up between INM and the Irish Times/Examiner, with INM tipped to give up its print ops in Citywest in favour of a printing contract with the Irish Times.
‘it shows how much work media groups have to do to transition to a digital business’
DO’B can’t be blamed for this. They buried their heads in the sand for years where digital was concerned, well before his tenure.
Things must be tight at the IT too if they can’t update their byline pics at least once a decade.
Can someone please explain to me how this 3 year old video has been on the top videos section of the front page on the indo site for the past year? I thought maybe its a cookie thing or some bug thats following me around but tried different browsers etc.
https://www.independent.ie/videos/have-you-seen/watch-freddy-is-officially-the-biggest-dog-in-the-world-35328780.html#play
There’s some blaggarding going on behind all this
No dividends
Big like mad big
Liabilities forming a queue to get into the pipeline
ShOneT reputation
Have some handy assets alright
That CityWest facility being one
I dunno
They all look the same, don’t they ?
That Paul Sommerville fella looks very like John Bishop.
When INM pay for what took place, there wont be much left for anyone, it is surprising
that the rotten rag has survived for so long, We need an Independent “Irish Press”
and not some of the biased content we are being fed currently.
Regardless of who buys it, it will still be gutter press.