Having rid itself of its ailing British newspapers, media mogul Tony O'Reilly's troubled Independent News & Media (INM) may be on its way to recovery. Having rid itself of its ailing British newspapers, media mogul Tony O'Reilly's troubled Independent News & Media (INM) may be on its way to recovery. Owner of 14 daily and weekly newspapers in SA including The Star and Sunday Independent , the Dublin-based company has been struggling to keep its doors open for the past year and a half. The group, now headed by O'Reilly's son Gavin after his father's retirement, has been struggling to repay a ¤200m bond. But luck appears now to be on the side of the company. Not only has it managed to sell its debt-ridden Independent and the Independent on Sunday in the UK, the decline in advertising during the year to December is steadying. INM sold the UK titles to ex-KGB agent and Russian oligarch Alexander Lebedev for £1. Lebedev bought the London Evening Standard last year for th...
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