O'Brien calls on O'Reilly to resign

Businessman Denis O'Brien is today calling for Independent News and Media CEO Gavin O'Reilly to step down, after the company issued a warning that profits for this year are likely to fall short of targets.

Mr O'Brien is the largest shareholder in the newspaper group, with a 29% stake.

Independent News and Media said profits for this year would be around €78m. It had been expecting to make a profit of €83m.