Sir, – I am writing in response to your editorial “The Irish Times view on the INM report: questions of governance” (August 1st), regarding the publication of the inspectors’ report into Independent News & Media. The editorial notes that “Robert Pitt and Ryan Preston’s version of what transpired at the upper levels of the country’s largest media business in 2016 has been upheld”.
Mr Pitt and Mr Preston alleged, in their protected disclosures, that I attempted to defraud INM in order to benefit Mr Denis O’Brien in respect of the proposed acquisition of NewsTalk and the disposal of INM’s shares in APN.
With regards to NewsTalk, the inspectors have stated in their report that they are “satisfied that Mr Buckley’s approach to the negotiations was not motivated by a desire to promote Mr O’Brien’s interest at the expense of the interests of INM’s shareholders generally.” The inspectors further stated that I did not put improper pressure on Mr Pitt and Mr Preston to inflate the price for NewsTalk, as had been alleged by Mr Pitt and Mr Preston.
In respect of APN, the inspectors stated in their report that the proposal to retain Island Capital was not an opportunistic attempt that would have involved a fraud on INM; and that Mr Buckley did not agree to the engagement of Island Capital with the intention of benefitting Mr O’Brien, to the detriment of INM’s other shareholders.
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The undisputable fact is that these allegations made by Mr Pitt and Mr Preston have not been upheld and have been rejected by the inspectors. – Yours, etc,
LESLIE BUCKLEY,
Dalkey,
Co Dublin.