When is an exclusive not an exclusive?
That's the question many journalists ask themselves when they see a story they've written turn up as an "exclusive" in another organ, later in the week or month. It has happened to us all. But it has happened to Ian Kehoe, a reporter with The Sunday Business Post, more than most. (In recent weeks, anyway.)
On Sunday, the Sunday Independent ran an exclusive front page story about 10 high profile businessmen losing €300 million through a complicated 'non-recourse' deal with Anglo-Irish bank. The story was that they were given €30 million each in a loan from Anglo Irish, on condition that they used the money to buy shares in the ailing bank. The 'non-recourse' part of the deal meant that if the value of the shares fell, they did not have to make up the difference. In other words, it was an attempt by Anglo-Irish to rig their share price using friendly businessmen who wouldn't say a word about it.
Great story, eh?
Except Ian Kehoe wrote it, on the front page of the SBP, two weeks previously. It was again mentioned the following Sunday. And on Sunday just gone. The Sunday Times also had the story previously.
Despite this, radio stations and dailies ran with the story and various follow-up pieces all of Sunday and Monday, as if it were the first time they were hearing this piece of news.
Similarly, the Sunday before last, Ian wrote the story that became the tale of an €8 billion loan from Irish Life and Permanent to Anglo Irish Bank. The only detail missing was the name of the lender (ILP). On Tuesday, that name finally emerged, with RTE's David Murphy first to report it. The entire story has now gone down as an RTE scoop, when it patently was not.
In a way, this is the nature of news consumption: it is only news if people hear or see it. The Sunday Times, for example, ran a feature on page three about Twitter. There was nothing new in there, nothing that hadn't been written umpteen times. All of a sudden, though, radio stations were scrambling to put items together on Twitter.
This is because The Sunday Times sells 120,000 copies. And they placed it on page 3. (Arguably, The Sunday Times decided to run its feature because of a small piece on the front of the previous Saturday's Irish Times which, again, was fairly inconsequential.)
By comparison, I wrote a full page feature on Twitter about a month ago in the SBP. But far fewer people will have seen that piece than the subsequent pieces in The Irish Times or The Sunday Times. And I'm sure that people who have been blogging about Twitter for ages (eg Damien Mulley) will say that I have come late to Twitter (which, compared to him, I certainly have).
The lesson? Be wary of the word "exclusive" when attached to a story.