• Due to a glitch in the old vBulletin software, some users were "banned" when they tried to change their passwords at the end of February. This does not apply after the site was converted to Xenforo. If you were affected by this, please us viua the Contact us link in the footer.

Denis O'Brien Newstalk and INN - Our Own News Oligarch ?


cactusflower

Well-known member
Joined
Oct 1, 2008
Messages
1,280
Newstalk selected to replace INN service - The Irish Times - Sat, Oct 17, 2009

Perhaps I've missed a thread on this?

INN, the news agency that provided news reports for 18 local radio stations has folded, and a six month contract to provide these services won by Denis O'Brien's Newstalk.

O'Brien is not exactly a shrinking violet politically and spent part of the weekend laying in to Ireland's academic economists for their activities critiquing NAMA. He is also engaged in a very public feud with the Independent News and Media (of which he is a substantial shareholder). Independent News & Media board hits back hard at Denis O'Brien | Media | guardian.co.uk

Newstalk brings a welcome to the drear establishment stodge of RTE news, and has run subtantial anti-NAMA coverage. However it also gives us the dubious right wing populist George Hook and his save the nation crusade tour. O'Brien benefitted massively from the sell of of national resources (telecoms) and is now the richest Irish born person.

Whoever controls the press and news media has massive political influence. Any throughts about O'Brien's media activities and aspirations ?
 


Eamonn76

Member
Joined
Aug 26, 2009
Messages
54
Leave aside Mr O'Brien himself. Given O'Reilly, Murdoch and RTE did we need more concentration of ownership in our media? In a true republic this would not be allowed. The more independent voices the better. O'Brien's bullying of the academic economists is frightening. But a media oligarch can usually get his way and with much greater subtlety. As was aptly said of other media moguls:
power without reponsibility, the prerogative of the whore throughout the ages.
 

Anorakphobia

Well-known member
Joined
Apr 13, 2007
Messages
911
Newstalk selected to replace INN service - The Irish Times - Sat, Oct 17, 2009

Perhaps I've missed a thread on this?

INN, the news agency that provided news reports for 18 local radio stations has folded, and a six month contract to provide these services won by Denis O'Brien's Newstalk.

O'Brien is not exactly a shrinking violet politically and spent part of the weekend laying in to Ireland's academic economists for their activities critiquing NAMA. He is also engaged in a very public feud with the Independent News and Media (of which he is a substantial shareholder). Independent News & Media board hits back hard at Denis O'Brien | Media | guardian.co.uk

Newstalk brings a welcome to the drear establishment stodge of RTE news, and has run subtantial anti-NAMA coverage. However it also gives us the dubious right wing populist George Hook and his save the nation crusade tour. O'Brien benefitted massively from the sell of of national resources (telecoms) and is now the richest Irish born person.

Whoever controls the press and news media has massive political influence. Any throughts about O'Brien's media activities and aspirations ?
I wouldn't worry too much about O' Brien, his influence is on the wane and Moriarity will shred him.
As for Ireland's richest born man. Not a chance, this lad has been burning it at a rate of knots last two years. He is down the guts of a billion on his vanity trades in Indo and Aer Lingus and his roll out of Digicel across the Pacific is apparently in ribbons.
The people who tell you O'Brien is worth gazillions are the same ones who told us Quinn is worth 5 billion.
Strange how a man worth 5 billion couldnt meet a 300m margin call on Anglo, folded his position and the rest as we know it is history.
We are a nation of ****************************************ters.
O' Brien and O'Reilly between them might not have the price of a bag of crisps (and based on how difficult the Indo found it to raise funds, I suspect most abroad feel that is the case) but as usual we in Ireland know better, we just accept what Barry Egan tells us.
 

Eamonn76

Member
Joined
Aug 26, 2009
Messages
54
O'Brien backs Nama. O'Reilly backs FF. RTE backs Nama. The Irish Times is edited by a PD.

I fear we are having a Potemkin debate on Nama - it is supposed to look real but really the outcome is not in doubt.
 

'orebel

Well-known member
Joined
Nov 13, 2009
Messages
20,532
Time has come for action ... this degree of bad attitude unchecked ...will only invite worse

Ireland's media silenced over MP's speech about Denis O'Brien | Media | The Guardian

cYp
So there it is. The owner of the bulk of Ireland’s media outlets is using an injunction to prevent reports on his affairs appearing in the rest of the media he doesn’t control.

Clearly, there are questions to ask about the press freedom implications due to Ireland’s lack of media plurality and diversity.
 

HereWeGoAgain

Well-known member
Joined
Aug 2, 2012
Messages
14,643
which is precisely the reason Nessa Childers is hosting conference on Friday entitled

Newsocracy: Safeguarding Journalism and exploring owner influence
A conference hosted by Nessa Childers MEP

Friday 3rd June – Radisson Blu, Dublin 8

This all-day conference will question the concept of media diversity and ownership in both online and traditional print media – and explore the implications for traditional notions of democratic accountability and journalistic independence.

To seek an answer to these questions and explore issues around ownership and challenges presented by online news sources two pieces of research will be launched on the day. The research undertaken by Nessa Childers in partnership with the Institute For Future Media and Journalism (FUJO / DCU) examines the relationship between large media shareholders and media content through coverage of four major news stories in Ireland between the years 2012 to 2015 – and the second piece of research looks at how social media affects different news organisations differently through a series of interviews with these organisations to find out about their experiences
link
newsocracy | Nessa Childers MEP
 

Sister Mercedes

Well-known member
Joined
Dec 19, 2011
Messages
20,634
O'Brien backs Nama. O'Reilly backs FF. RTE backs Nama. The Irish Times is edited by a PD.

I fear we are having a Potemkin debate on Nama - it is supposed to look real but really the outcome is not in doubt.
What a prescient comment from 7 years ago.

I'm looking at independent.ie right now and still no sign of a mention of the 2 Nama arrests in the North.
 

hammer

Well-known member
Joined
Jul 6, 2009
Messages
58,506
Is it Denis`s birthday today ?

About 7 threads bumped about the great entrepeneur.
 

hammer

Well-known member
Joined
Jul 6, 2009
Messages
58,506
He is a large employer I believe.

Is it 1,000 - 2,000 - 5,000 - 10,000 in Ireland alone ?
 

HereWeGoAgain

Well-known member
Joined
Aug 2, 2012
Messages
14,643
3,300 water-meter installers, that's the biggest part. Thanks to your party's affection for him.
On March 15, 2012, Denis O’Brien – through his Isle of Man-based acquisition vehicle, Millington – bought Siteserv for €45.4million cash from the IBRC, formerly known as Anglo Irish Bank.

Law firm Arthur Cox represented both IBRC and Millington during the sale.

The sale involved IBRC agreeing to writing off €100million of Siteserv’s €150million debt.

Mr O’Brien acquired the business on a debt-free basis.

In addition, just under €5million was distributed to Siteserv’s shareholders, with them believed to have received €3.92 for every share they owned.

Soon after the sale, it was reported that some other bidders for Siteserv were unhappy with the deal.
At the time of the sale, Mr O’Brien owed Anglo hundreds of millions of euro while Siteserv owed Anglo €150million.

link
Denis O’Brien, Fine Gael And The Water Meter Deal | Broadsheet.ie

Mr Wallace alleged in the Dáil last Thursday that Mr O’Brien’s “political links” may have been influential in his 2012 purchase of Siteserv, a company that has won State contracts to install meters for Irish Water.

“The very nature by which this gentleman [Mr O’Brien] ended up in possession of Siteserv is very questionable,” said Mr Wallace.

“There will be some unease about the fact that Denis O’Brien’s close political links may have been instrumental in his bid to buy Siteserv, the company that won the State contract to install water meters for Irish Water.

“He did a deal with IBRC where €100 million of debt that Siteserv owed to . . . IBRC, which was really the taxpayer, was wiped off,” he added. “Two higher bids for the company that would have earned the State more money were rejected. A former Fine Gael minister was chairman of IBRC at the time the deal was approved.”

Denis O’Brien, Fine Gael And The Water Meter Deal | Broadsheet.ie

Mick Wallace
 

HereWeGoAgain

Well-known member
Joined
Aug 2, 2012
Messages
14,643
my favourite on this is from Namawinelake:
The buyer is a company called Millington, based in the Isle of Man, which numbers Denis O’Brien and Leslie Buckley amongst its owners. But there appears to be at least two competing offers for Siteserv for more than €45m – one for €52m from Anchorage and one for €60m from Altrad. We were also interested to find out that Dublin solicitors Arthur Cox were reported to have acted for both Siteserv and Denis O’Brien, though the company says it has procedures in place to deal with potential conflicts of interest.

But what is particularly interesting is that IBRC had given Siteserv a loan for €150m, but is set to get back less than €50m as part of the sale, and will write off the remaining €100m. And at the same time, the shareholders in Siteserv are set to pocket €5m. That turns the usual rules on debt on their head, normally the shareholders are wiped out first and secured lenders – which is what IBRC is understood to be in this case – tend to be top of the pile when it comes to prioritising repayment of debt. Remember Anglo in 2009 and the shareholders losing everything, but Anglo’s secured creditors, including senior bondholders, were repaid everything

.What has this to do with me? Well, you own IBRC, which is the company that merged Anglo and Irish Nationwide together. So YOU are writing off €100m
– more than the €80m that has been collected from the controversial Household Charge – and at the same time shareholders are keeping millions.

But surely IBRC protects my interest. You’d think. After all, with annual rewards totalling €866,000 – about twice what the NAMA CEO gets – Mike Aynsley, the Australian CEO of Anglo must be a complete genius. And if anyone can protect our interests, he can. After all, that’s what he’s being paid so handsomely to do. Sadly to date, IBRC hasn’t defended its agreement with the €45m sale price, nor has it explained why shareholders walk away with millions while the taxpayer suffers a €100m loss. And before you conclude that this is a modern day version of Robber Barons stealing a company from under us, there has been a sale process ongoing for six months which has been overseen by KPMG and Arthur Cox, so we should expect some standard of probity.

Why doesn’t IBRC just appoint receivers to Siteserv? Indeed, a good question. Remember it was just a year ago that IBRC, or Anglo as it was known then, orchestrated the receivership of Sean Quinn’s companies. So it’s not as if IBRC hasn’t a track record of appointing receivers to insolvent companies. There are suggestions that Siteserv would lose several contracts if it were placed in receivership but these have not been publicly addressed.
https://namawinelake.wordpress.com/2012/04/08/ten-things-to-know-about-the-denis-obriensiteserv-transaction/
 

Socratus O' Pericles

Well-known member
Joined
Oct 12, 2009
Messages
33,578
So there it is. The owner of the bulk of Ireland’s media outlets is using an injunction to prevent reports on his affairs appearing in the rest of the media he doesn’t control.

Clearly, there are questions to ask about the press freedom implications due to Ireland’s lack of media plurality and diversity.
and people try and tell you it's not an oligarchy.
 

VHF

Well-known member
Joined
Mar 29, 2008
Messages
2,963
Rabbite yet again demonstrating deep inability to park his emotions at the door before entering the studio.

Newstalk now Shane Coleman has a panel of 100% EU sympathisers. No journalistic broadcasting balance whatsoever. The tone of the show is hyperbole and chaos in its messaging to the listing public.

Quite shocking of Newstalk.
 

Popular Threads

Most Replies

Top