Business Irish

Sunday 18 February 2018

BAI will not review media interests of businessman Denis O’Brien reporters

THE Broadcasting Authority of Ireland will not review the interest of businessman Denis O’Brien in Independent News & Media (INM) it said today.

This is in the context of media ownership in Ireland – Mr O’Brien’s media firm Commicorp either controls or has interests in six independent radio stations here, according to the Authority.

Earlier this year, the businessman increased his stake in INM to just under 30pc.

“The Authority determined that Mr O’Brien does not control IN&M,” it said in a statement today.

“Rather he has a substantial interest in the company, as that term is defined in the policy.

“In this regard, the authority was not obliged to review Mr. O’Brien’s interests in the context of an undue amount of communications media.”

The Authority also said it considered noteworthy that Mr O'Brien's interest in INM has been enhanced, that the situation regarding the company is fluid and that it is intended that further appointments be made to its board of directors.

It also asked to be kept informed of any developments in that regard.

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