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The BAI is unlikely to take further action over Denis O'Brien's stake in IN&M unless he breaches the 30 per cent barrier. Laura Hutton/Photocall Ireland

Broadcasting Authority 'not obliged' to review Denis O'Brien's media holdings

The broadcasting watchdog says Denis O’Brien doesn’t “control” Independent News & Media – he just has “a substantial interest”.

THE BROADCASTING AUTHORITY of Ireland has said it has no requirement to review the media holdings and influence of Denis O’Brien – because his stake in Independent News & Media does not amount to a controlling share.

The authority this afternoon clarified the nature of its letter to O’Brien’s radio holdings company, Communicorp, saying it had written to the company in order to request that it keep the BAI informed of any further developments of O’Brien’s interests in IN&M.

O’Brien owns 100 per cent of Communicorp, which owns six radio stations in Ireland, as well as 29.9 per cent of IN&M, which publishes the Irish Independent, the best-selling daily, and the Sunday Independent, the highest-selling Sunday broadsheet.

The BAI said today that O’Brien’s stake in IN&M was relevant in the context of the BAI’s obligation to stop any individual or group from controlling “an undue amount of communications media”.

It added, however, that upon examination of O’Brien’s stake in IN&M – which was increased to 29.9 per cent in May – it had determined that O’Brien did not control the newspaper publisher, but merely had a “substantial interest” in it.

It noted that O’Brien’s shares did not give him more than 50 per cent of IN&M’s voting rights, even though his shareholding did mean a special resolution could not be passed a meeting of IN&M shareholders if O’Brien voted against it.

It further noted that O’Brien’s shareholding had not passed the 30 per cent mark – beyond which he would be obliged, under stock market rules, to launch a formal bid for the remaining shares in the company.

It also took stock of the fact that the influence of the O’Reilly family, previously IN&M’s largest shareholder, had been greatly diminished and that O’Brien could now nominate three members to its board.

The BAI adopted its current policy on the ownership and control of broadcasting outlets last April.

Previously: BAI to write to O’Brien’s Communicorp to discuss media ownership

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11 Comments
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    Mute
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    Jun 20th 2021, 4:48 PM

    Why don’t the government build a brand new hospital off the M50 accessible by road and public transport a hospital that’s not smack bang in the middle of the city and while building the hospital make it so that it has a helipad and no neighbours to protest every time a helicopter has to land in the nearest Rugby/GAA pitch and to alíviate not landing in a pitch have the helipad on the hospital roof. For the love and honour agree a final price all included and tie the contractor into it.

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    Mute Roy Dowling
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    Jun 20th 2021, 7:43 PM

    This hospital isn’t smack bang in the middle the city centre. The hospital has a bus routes stop outside both entrance to the grounds. Sydney parade dart station is 5 minutes walk away. And there is a multi story carpark on the site with another currently under construction.

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    Mute ChronicAnxiety
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    Jun 20th 2021, 7:58 PM

    @Roy Dowling: it is a NATIONAL maternity hospital , not a South county Dublin Maternity hospital,

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    Mute EillieEs
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    Jun 20th 2021, 8:21 PM

    @ChronicAnxiety: the point is that the St Vincent’s site is easily accessible by public transport as well as car.

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    Mute EillieEs
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    Jun 20th 2021, 8:34 PM

    @: the whole point of locating it alongside a general hospital and not as a stand-alone on the M50 was that in the case of complications there’d be immediate access to the emergency services that an acute general hospital provides.

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    Mute Rory J Leonard
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    Jun 21st 2021, 7:48 AM

    @Roy Dowling:

    “Sydney Parade Dart Station is five minutes walk away”

    Ronnie Delaney, in his prime, wouldn’t have ran the true distance in that time!

    I wouldn’t be using that as a selling point for the proposed new maternity hospital!

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    Mute Dave Barrett
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    Jun 20th 2021, 4:32 PM

    Looks like another disaster like the children’s hospital is on the cards.

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    Mute Jeff Rudd
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    Jun 20th 2021, 6:35 PM

    @Dave Barrett: If BAM has anything to do with it – yes!

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    Mute Darren Carroll
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    Jun 20th 2021, 4:35 PM

    Must be an election coming soon somewhere, chap is working overtime this weekend

    110
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    Mute ChronicAnxiety
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    Jun 20th 2021, 8:01 PM

    @Darren Carroll: FG are getting in it on the streets of DBS , does not help that James Geoghegan is on the board of the national maternity hospital and a founding member of renua.

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    Mute Dan
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    Jun 20th 2021, 4:36 PM

    Just start afresh….ask for the so called land that they handed over to be given over fully, no strings, no lease, no funny business.. any strings attached just walk away….everyone will see it as it is…dont waste a penny of our money on those folks… look for land that we do own and build there

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    Mute Mickety Dee
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    Jun 20th 2021, 4:43 PM

    @Dan: I think the sister’s of charity want to be paid for the land. It seems charity doesn’t extend to the provision of a maternity hospital

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    Mute Skipper Mac
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    Jun 20th 2021, 5:35 PM

    @Mickety Dee: as far as I know Sisters of Charity are happy to give the land for the expansion of Saint Vincent’s and the new Maternity Hospital. However under the condition that the ethos of the hospital would remain Catholic.

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    Mute Mickety Dee
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    Jun 20th 2021, 6:10 PM

    @Skipper Mac: But that’s not being offered.

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    Mute Jeff Rudd
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    Jun 21st 2021, 11:45 AM

    @Skipper Mac: @Skipper Mac: They were to gift it to the state – they stated this – but instead, actually gifted it to a further religious setup connected to themselves.

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    Mute Pete Lee
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    Jun 20th 2021, 6:46 PM

    Have they paid money owed from abuse agreements?

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    Mute Annmarie Taylor
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    Jun 20th 2021, 7:02 PM

    @Pete Lee: No of course not.

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    Mute DB
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    Jun 20th 2021, 5:25 PM

    The mind boggles that even St Vincent’s have to be asked to give the land .

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    Mute Benny McHale
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    Jun 20th 2021, 7:36 PM

    Get the Chinese to design and build a maternity hospital on the Naas Road. They’d have it done in a couple of months.

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    Mute leartius
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    Jun 20th 2021, 9:23 PM

    It’s such a laugh. Think back to 2017. In march 2017 Leo announced
    Leo Varadkar says Government ‘cannot seize church lands’.
    “A referendum on giving the Government powers to seize lands owned by the Catholic Church in order to recoup a shortfall in payments for abuse victims would probably be lost, Minister for Social Protection Leo Varadkar has said.
    Mr Varadkar was speaking after Minister for Health Simon Harris said there would be “significant merit” in seizing hospital and school property in light of a report which showed shortcomings in the church’s contribution to a redress scheme for those abused in Catholic institutions.”
    4 years later, Leo Varadkar says Government ‘hasn’t ruled out’ CPO of National Maternity Hospital site. That’s some comfort.

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    Mute Sean
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    Jun 20th 2021, 9:34 PM

    @leartius: I’m not entirely sure what your point is. I don’t think you are either. A CPO is a forced sale but it’s not the same as seizing. And he’s still saying it can’t be done so it’s not like he’s changed his tune.

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    Mute Ron Ashenden
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    Jun 21st 2021, 9:07 AM

    Can someone tell me why it has to be built in Dublin and not for the whole of the country say Mullingar

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    Mute Martin Sinnott
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    Jun 21st 2021, 7:28 AM

    Stop. Shame on the politicians
    .l just start building

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    Mute Martin Sinnott
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    Jun 21st 2021, 7:27 AM

    Stop. Sh

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