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
Famous quotes containing the word media:
“One can describe a landscape in many different words and sentences, but one would not normally cut up a picture of a landscape and rearrange it in different patterns in order to describe it in different ways. Because a photograph is not composed of discrete units strung out in a linear row of meaningful pieces, we do not understand it by looking at one element after another in a set sequence. The photograph is understood in one act of seeing; it is perceived in a gestalt.”
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