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Provides news to local radio stations
Thursday, 1 October 2009 20:16
It has been confirmed that the Independent Network News agency will close on 30 October.
The future of INN had been in doubt due to a dramatic fall-off in advertising revenue.
Management called staff to a meeting in Dublin this afternoon to announce the decision.
INN employs 16 people and supplies national and international news to Ireland's independent local radio stations.
INN Chief Executive John O'Connor said: 'It is with great regret that we informed staff of the decision of the board of INN to cease trading due to a collapse in advertising revenue, our primary source of income, from the first quarter of this year.
'Unfortunately, the company is no longer financially viable and is making unsustainable losses on a monthly basis, to the extent that the board, having considered all other options, has been left with no alternative but to arrive at this very difficult decision.'
The decision to wind up the operation was made at a meeting of the board yesterday.
Local radio must comply with a 20% news content condition under the terms of licences granted by the Brodcasting Commission of Ireland.
The closure of INN will present difficulty to the stations to meet their obligations under the news requirement conditions.
The National Union of Journalists has reacted angrily to the manner in which INN staff were informed about the board decision to wind up the company.
According to the NUJ, news of the closure was broadcast and published on websites prior to staff being informed by management.
NUJ Irish Secretary Seamus Dooley said the announcment was handled in a 'disgraceful manner'.
He said: '15 journalists learned that they would lose their jobs through media outlets, that is simply unacceptable. It is not too much to expect that the company would have taken steps to ensure that staff were made aware of the Board's decision prior to it entering the public domain.
'INN staff have made huge sacrifices over the years and are paid well below the market rate for national journalists. They have tolerated a pay freeze and the non-replacement of staff and their efforts are rewarded by this cavalier treatment.'
Mr Dooley said the NUJ will seek an urgent meeting with management to explore alternative options to closure.
Source:
http://www.rte.ie/news/2009/1001/inn.html
Via Yimber Gaviria, Colombia
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