Radio news agency to close

ONE of the country’s leading news agencies, which supplied 21 radio stations with national and international news, is set to close down.

Independent Network News will cease operating on October 30.

The company’s chief executive John O’Connor blamed a collapse in advertising revenue, its primary source of income, from the first quarter of this year.

“Unfortunately the company is no longer financially viable and is making unsustainable losses on a monthly basis, to the extent that the board, having considered all other options, has been left with no alternative but to arrive at this very difficult decision,” he said.

“This is a particularly arduous and sad moment for our skilled and dedicated journalistic team at INN. Their hard work and commitment has been the corner stone of INN’s achievements over the past 12 years and we thank them for their support and effort throughout.”

However, the National Union of Journalists said it was angry that 15 of its members had learned of the closure through a broadcast at lunchtime and through news published on websites before management informed them in person.

“It is not too much to expect that the company would have taken steps to ensure that staff were made aware of the board’s decision.

“INN staff have tolerated a pay freeze and the non-replacement of staff and their efforts are rewarded by this cavalier treatment.”

Meanwhile, Waterford company Morris Builders Providers has confirmed the loss of 18 jobs.