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Finance Minister brings RTÉ and TG4 under remit of NewERA

It comes amid the ongoing controversy surrounding undisclosed payments made by RTÉ to presenter Ryan Tubridy.

RTÉ AND TG4 have been brought under the remit of NewERA, a division of the National Treasury Management Agency (NTMA) which provides financial and commercial advice to Ministers and Departments in relation to State companies.

Finance Minister Michael McGrath added both broadcasters to the list following the ongoing controversy surrounding RTÉ involving undisclosed payments to presenter Ryan Tubridy. 

NewERA was established in 2011 to oversee the management and potential sale of the Government’s stake in State assets, while also acting as a strategic investment fund.

Other state companies that are designated to NewERA include An Post, Bord na Móna, CIÉ, Coillte, daa, ESB and the Irish Aviation Authority.

NewERA has provided financial and commercial advice on certain matters to the Minister for Media in respect of RTÉ and TG4 in the past by agreement. 

The Future of Media Commission had recommended that both RTÉ and TG4 should be designated as bodies under NewERA in its report published in July last year. 

NewERA will be able to provide advice to Ministers on financial and commercial matters relating to RTÉ and TG4, but Ministers can also take any other advice or considerations into account.

“I am pleased to have processed the designation of RTÉ and TG4 to NewERA following the recommendations of the Future of Media Commission report and the recent issues surrounding RTÉ,” McGrath said.

“NewERA provides vital financial and commercial advice service to Ministers and Departments in relation to the commercial Semi-State sector companies under its portfolio and brings a detailed and comparative knowledge across various sectors.

“I look forward to and will consider their advice and contributions in respect of RTÉ and TG4 in the coming months”.

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