INM to Close London Office and Dublin HQ

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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.

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