Media Shareholding
In January 2006, O'Brien took a stake in Tony O'Reilly's Independent News & Media (IN&M). As of May 2012, he holds a 29.9% stake in the company, making him the largest shareholder. This compares to O'Reilly's family stake of around 13%. At the beginning of June 2007, O'Reilly tabled a resolution to strengthen rules on the disclosure of beneficial interests. This was regarded as a defensive measure that would empower IN&M to monitor any additional accumulation of shares in the company. The resolution passed and empowers IN&M to withhold dividends from investors who do not comply with a request for information on the ownership of a holding of shares.
O'Brien, speaking on RTÉ Radio, described the resolution as a "retrograde" measure, saying that the resolution was designed to protect the interests of O'Reilly's family against a hostile bidder.
Read more about this topic: Denis O'Brien
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“The media no longer ask those who know something ... to share that knowledge with the public. Instead they ask those who know nothing to represent the ignorance of the public and, in so doing, to legitimate it.”
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