Sir Anthony O'Reilly, the chief executive of Independent News & Media, was paid a total of €1.3 million by the media group last year, a 7 per cent increase on the €1.23 million he received in 2003.

Sir Anthony received a salary of €866,000, a bonus of €400,000 and fees of €51,000.

In its annual report, published yesterday, the media group said its seven executive directors shared pay of €6.97 million last year, up from €6.39 million the previous year.

The head of Independent's Australian operations, Brendan Hopkins, was the highest-paid executive, receiving a total package worth €1.475 million, unchanged from 2003. This included pension benefits of €153,000.

The company's chief operating officer, Gavin O'Reilly, received €1.115 million, up 13 per cent. As well as a salary of €561,000, he received a bonus of €350,000 and pension payments of €155,000.

The chief executive of the company's Irish operations, Vincent Crowley, was paid €975,000 in total, up from €870,000 in 2003, while the group's UK head, Ivan Fallon, was paid €979,000, up from €944,000.

Meanwhile, chief financial officer Donal Buggy received €747,000, a 42 per cent increase on 2003.

The company's 18 non-executive directors shared fees of €1.14 million between them, up from the €937,000 they were paid a year earlier.