INM seeks meeting with shareholders

Independent News and& Media management is looking to meet with major shareholders — including Denis O’Brien — to gauge their concerns ahead of another potentially fractious AGM in early June.

It was reported yesterday that Mr O’Brien and Dermot Desmond — who between them control almost 28% of INM — are looking to push for a shake-up of the group’s board, including the removal of chief executive Gavin O’Reilly at the Jun 8 AGM.

Yesterday, Mr O’Reilly said every shareholder had the right to voice their opinions and concerns, but seemed to doubt the motives of Mr O’Brien, who has a 22% INM stake.