20 local newspapers due to INCREASE cover price in advance of removal of VAT.
The biggest player in Irish local newspapers is Malcolm Denmark, with an address at 1,Gunpowder Square, London. He owns 22 newspapers including such iconic titles as the Limerick Leader and Kilkenny People. In fact, his company is called Iconic and it also runs 23 local news websites, with the likes of Tipperary Live and Kildare Now.
It is reasonable to suggest that he has not won many admirers in Ireland. Those who have had dealings with Denmark use words such as combative. He Is regarded by some as having more of an interest in what profit can be made from newspapers that in journalism per se, or in the communities from which great titles such as the Limerick Leader spring.
That newspapers, magazines, journals and periodicals are under pressure is an understatement but Iconic is not going to lose an opportunity to improve its lot, even if it’s at the expense of the equally hard-pressed reader and taxpayer.
Of the 17 titles primarily circulating in the Republic, 3 of them will see a 30-cent increase at the end of November, with 13 going up by 20 cent and one going up by 50cent!
Ordinarily these increases would have 9% set aside for VAT but since the Minister believes that Malcolm’s organs are vital in the spread of democracy, the enthusiastic owner of racehorses will manage to keep that portion also.
A €3.00 title with VAT of 9% has almost 25cent Vat.
It is highly, highly unlikely that the printed cover price will be reduced on January 1st , culminating in a nice little earner for Malcolm.