INN news agency to close

Independent News Network (INN) is to cease operating at the end of October following a collapse in its advertising revenue from the start of the year. In a media statement issued by PR firm FD, INN chief executive John O’Connor confirmed the decision to close the agency was made as the business was no longer financially viable and was making unsustainable losses each month.
Set up in 1997, INN provided news and sports report feeds to 21 local stations around the country. Employing 16 journalists, it was owned by 16 independent local station shareholders. INN was dealt a major blow last year when i102-104 serving the north west signed a news feed deal with Denis O’Brien’s Newstalk. i102-104 is a youth regional station run by former Newstalk boss, Dan Healy.
Should another media group take up the mantle left by INN’s collapse, there would be a number of possible candidates. UTV, which owns various stations such as FM104 and Q102 and the sales house, UTV Radio Solutions; TV3, where the head of news is former INN executive, Andrew Hanlon, and of course, Denis O’Brien’s Communicorp may be among those to show interest.