The gloves are off once again at Independent News & Media as dissident shareholder Denis O’Brien and chief executive Gavin O’Reilly resume their fight over the future of the Independent.
The return of hostilities opens up a new chapter in a feud that has intensified as INM’s financial position became more perilous.
Press Gazette has decided to bring together all the coverage and analysis it has dedicated to INM in recent months to help tell the full and compelling story of a company seemingly in the throws of a civil war.
Earlier this week O’Brien called for extraordinary general meeting of INM to discuss his proposals to sell or close the loss-making Independent and Independent on Sunday titles along with a series of further drastic measures.
This cut no ice with the INM which almost immediately went public to pour cold water on O’Brien’s plans.
The Independent titles weren’t going anywhere, it said, reopening the messy public disagreement between the company and its second biggest shareholder which had been brought to simmering truce just a few short months ago by O’Reilly snr departing as the company’s chief executive and three O’Brien allies joining the INM board.
INM has 21 days to respond formally to O’Brien’s request for an EGM. And it has 23 days left before the next deadline for resolving its â‚¬200m bond default heaves into view (on 25th September).
Presumably, those negotiations can’t reach a conclusion while open warfare exists inside the boardroom.
So the clock keeps ticking on the soap opera that INM has become. Here’s the coverage we have given in recent weeks: