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RTÉ News
16-05-2025
- Business
- RTÉ News
Kilcullen Business Post Group completes IMI deal
The Kilcullen Business Post Group has completed the acquisition of the Irish Management Institute from University College Cork. The company said the deal, which was announced last month, complements its existing portfolio. It said it aligns with its "House of Brands" in its vision to deliver world-class content ( experiences ( insights ( and executive education ( to the country's business and management community. Enda O'Coineen, the publisher and CEO of the Kilcullen Business Post Group, said the company was delighted to officially welcome IMI, one of Ireland's most iconic business brands, to the Kilcullen Business Post Group. "In the world that we live and operate in today, the only thing that is certain is change. Being agile, entrepreneurial, and dynamic is essential to thriving in this environment," he said. "Recent months have been unprecedented in the global economy. Leaders are being asked to make decisions in the dark essentially. It is vital that they continue to educate themselves on this fast-changing world so that rapid decisions can be well informed," he said. Under the terms of the deal, Shane O'Sullivan will continue as CEO of the IMI and plans are in place to invest further in the IMI senior leadership team. Active recruitment is underway to build and grow the existing team. New board appointments are underway, and a refresh of the IMI Council is planned in the months ahead. UCC will also continue to award IMI qualifications for at least two years as the business transitions and develops to grow not just in Ireland but internationally. "Today marks an important and exciting new chapter in IMI's journey. This investment and strategic alignment provides a strong platform to expand our offering and deepen our impact," Shane O'Sullivan said. "The world we operate in is becoming increasingly complex, shaped by global uncertainty and defined by rapid technological change, driven by AI. The need for learning has never been greater and has never had such a return on investment," he said. "Leaders need to be more adaptive, more attuned to change, and more focused on empowering their people to succeed. At IMI, we are here to guide organisations in doing that and with the support of the Kilcullen Business Post Group our proposition will be more relevant than ever before," he added.
Irish Independent
26-04-2025
- Business
- Irish Independent
Losses mount to €552,000 at Business Post publisher as it pivots to B2B model
The most recent accounts for the business, filed this week, show revenue in 2023 was €8.35m, down from €8.6m a year earlier. Losses increased from €359,000 in 2022 to well over half a million euro in 2023. The accounts show that one-off redundancy expenses had a significant impact in both years. Redundancy costs in 2023 added up to €163,743. In 2022 the total costs of what is described as an editorial restructuring including redundancies and professional fees had been €210,000. Following the latest annual loss, the accounts for Post Publications show a shareholders' deficit of €2.6m at the end of 2023. Directors note in their report that the business has the support of a parent company – Business Post Group – and its parent, Dun Aengus Investments. The strategy involves shifting from single-copy newspaper sales to selling bundles of digital subscriptions In a section on future developments, the accounts record that Swedish media business Bonnier News AB made a strategic minority equity investment into the parent Business Post Group in 2023 controlled by businessman Enda O'Coineen. That was made with the objective of accelerating the parent company's shift to building an integrated media platform around the Business Post brand, it said. At the Business Post title itself, the company said it is looking to address continuing decline in print media by transitioning its weekly Sunday newspaper that targets a consumer market of readers to a business information and news service focused on a business-to-business (B2B) audience. 'The strategy involves shifting from single-copy newspaper sales via retail to selling bundles of digital subscriptions directly to corporate clients,' it says. The wider Business Post Group now includes the Red C market research business and an events arm, iQuest, among other strands. Earlier this month, Business Post Group struck a deal with University College Cork (UCC) and the Irish Management Institute (IMI) to buy the IMI. The IMI was established in 1952 to provide leadership courses and executive education for member businesses that traditionally included many of Ireland's largest employers, including the big banks and semi-state enterprises. UCC took control of the institute in 2016 in a €20m deal that was described as being aimed at securing the Dublin institute's future as well as bolstering the university's engagement with industry.
