History
The company was formed as Independent Newspapers Limited in 1904 by William Martin Murphy, as the publisher of the Irish Independent.
In 1973 Sir Tony O'Reilly acquired 100% of the "A" shares of the company from the Murphy and Chance families, and was later forced to bid for the "B" (non-voting) shares. The company was later floated on the Irish Stock Exchange and London Stock Exchange.
The group expanded overseas, acquiring interests in the UK, Australia, New Zealand, and South Africa.
In 1999, the company name was changed to Independent News and Media plc. While the O'Reilly family and close allies still have a controlling interest (over 29.5% at July 2008), their shareholding is being diluted and a significant shareholding is being built by Irish entrepreneur, Denis O'Brien (over 27% at May 2008). 5% of the holding company is held by Clear Channel Communications, transferred in return for control of a South African outdoor advertising firm.
Read more about this topic: Independent News & Media
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