INM to Close London Office and Dublin HQ
Posted: 6/11/2012 | By: Mark Sweney | Guardian.co.uk
Vincent Crowley, the chief executive of Irish publisher Independent News & Media, has told shareholders he is to shut the company's London office and headquarters in Dublin, and warned that it must get to grips with a €148m pension fund deficit.
INM – which owns titles including the Belfast Telegraph, papers in South Africa and a stake in APN, which controls titles including the New Zealand Herald – reported a pre-tax loss of €63.6m (£53m) last year as operating profits dropped 9% to €75.5m.
INM – which owns titles including the Belfast Telegraph, papers in South Africa and a stake in APN, which controls titles including the New Zealand Herald – reported a pre-tax loss of €63.6m (£53m) last year as operating profits dropped 9% to €75.5m.