Independent News & Media to consider growth options

Independent News & Media (INM) is hopeful of making more acquisitions — aimed at boosting its digital capacity —in the next six months.

Speaking after a brief EGM yesterday — at which shareholders unanimously approved INM’s sale of its remaining near 19% stake in Australian diversified media group APN — chairman Leslie Buckley said that part of the benefits from the latest disposal will be freeing the group up to consider more growth opportunities.

To that end, he said that management will begin to seriously run the rule over acquisition possibilities over the coming six months, with the focus being on the continuing strengthening of INM’s digital capabilities. He said INM has approximately €25m in the bank and is ready to do deals.