O’Brien: INM in ‘chronic’ state

DENIS O’BRIEN, the largest shareholder at Independent News and Media (INM), said that the company is in an “extremely chronic financial situation”.

This news comes at the end of an eventful week at the media firm and reports yesterday that INM chairman Brian Hillery plans to step down soon.

Mr O’Brien said the company must make an “immediate” statement to the Stock Exchange on the “pending resignation of Mr Hillery and outline its strategy for the appointment of a new chairman.”