Irish businessman Denis O'Brien has further increased his stake in Independent News & Media (IN&M) to 22.2 per cent.
Representatives of Mr O'Brien this morning said he now controls 175 million IN&M shares.
The news follows a move last Thursday to further increase his stake. That saw the number of shares he controls rise from 20.16 per cent to 21.17.
This latest share buying comes two days before IN&M is due to report financial results for 2007.
Mr O'Brien's latest purchase of IN&M shares brings him another step closer to the 25 per cent level at which he can block certain resolutions put to shareholders. It also takes him closer to the 26.7 per cent stake held by IN&M chief Sir Anthony O'Reilly.
At 11am IN&M shares were up over 6 per cent at €1.70 on the Dublin market.