Business Services Industry
O'Reilly's governance approach questioned.
Australasian Business Intelligence, June, 2007
Byline: Lisa Murray
Jun 13, 2007 (The Sydney Morning Herald - ABIX via COMTEX) -- A David Global Advisors report has accused Independent News & Media (INM) of becoming a "crony company". The June 2007 study, commissioned by Denis O'Brien, has relevance to Australia as INM has a 40 stake in APN News & Media and the criticisms may also apply there. The accusation is that the INM directors are almost all closely affiliated with Sir Tony O'Reilly, a 26 shareholder in INM, and that corporate governance is being compromised. Similarly six members of the APN board are closely affiliated with INM. An APN spokesperson reasserted the independence of the board on 13 June 2007.
Publication Date: 14 June 2007
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