INM assumes full responsibility at Irish Daily Star
on 10/01/2013 17:51:32
The Star was recently mired in controversy and threatened with closure after its publication of topless photographs of the Duchess of Cambridge Kate Middleton.
Media tycoon Richard Desmond, whose Northern and Shell group co-owns the newspaper with Independent News and Media in a 50:50 shareholding, had threatened to shut the Dublin operation down in the wake of the tabloid's decision to rerun pictures of Middleton and Prince William sunbathing on a private holiday in France.
The newspaper's editor Michael O'Kane resigned as a result.
Gerry Lennon has been appointed managing director of Independent Star Limited. He remains as managing director of the Sunday World.
Gerard Colleran has been appointed editor of the Irish Daily Star.
In a statement today, INM said: "This...is predicated on a wide-ranging reorganization designed to deliver efficiencies and cost savings. These include: pay cuts for all staff, office relocation and associated overhead savings.
"It is envisaged that up to nine redundancies will come about from the first phase of its restructuring which will affect its circulation and advertising departments."
Under INM's management, Independent Star Limited will remain as a standalone entity, with a separate board and identity.