meaning mediahuis: INM had 81.7m of cash on its balance sheet at the end of its last financial year, meaning Mediahuis in effect paid 63.9m for the business, according to The Independent. O'Brien, Ireland's richest man, is the biggest INM shareholder, with a 29.9% stake, and will receive 43.5m from the deal. Independent News & Media, which publishes Ireland's biggest-selling daily and Sunday papers the Irish Independent and Sunday Independent as well as the Belfast Telegraph and a large number of regional titles, accepted the 145.6m 125.2m offer from Mediahuis. However, he spent more than 500m buying INM shares to oust the former owner Tony O'Reilly. The INM chairman, Murdoch Mac Lennan, who was formerly chief executive of Telegraph Media Group in the UK, said We believe the deal represents an excellent outcome for both the company and its shareholders. Dermot Desmond, INM's second-biggest investor and the single largest shareholder in Celtic football club, will make 21.8m from the sale of his 15% stake.
(news.financializer.com). As
reported in the news.
Tagged under meaning mediahuis, belfast telegraph topics.