As we journalists know all too well, there is more than one way to report the same story. And that's especially true when our business is the topic.
Last week, Mark Sweney of this parish very properly reported that the Irish-based Independent News & Media (INM) had posted a pre-tax loss of €63.6m for 2011.
He went on to state that operating profit fell almost 9% year-on-year to €75.5m, and that its Irish arm saw revenue fall 8.9% year-on-year, with operating profit falling by 15.4% to €45.6m.
By contrast, INM's Irish flagship, the Sunday Independent yesterday managed to find a positive angle to this somewhat bleak story.
Its business section carried a story headlined INM is only media company to make a profit.
Ignoring the fact that operating profit had fallen (and that it had been subject to two profit warnings) it began:
"INM, which reported operating profits of €75.5m last week, is the only major Irish newspaper and media company not to be losing money."
It went on to point out that three Irish-based rivals - the Irish Times, Thomas Crosbie Holdings and RTE - were in the red (as indeed they are).
It quoted a bullish INM chief executive Gavin O'Reilly as saying that there had been "some encouraging trading in recent weeks" but the market was "susceptible to influence by macro-economic factors."
Proof that there is always more than one way to skin a cat. Or should that be spin a cat?
Sources: Sunday Independent/The Guardian
