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The Guardian - UK

Roy Greenslade

O'Reilly warns of ad revival reversal

A credit squeeze could halt a nascent revival in national newspaper advertising, said Gavin O'Reilly, the chief operating officer of Independent News & Media (IN&M), who claimed that the company's UK division - consisting of The Independent titles and the Belfast Telegraph - had seen an improved advertising performance at the end of the second quarter. Pre-tax profits came in at €94.1m (£), 13% down on a year earlier, partly due to an exceptional charge related to staff redundancy and the failed bid to take its Australian subsidiary private. (Via FT.com)

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