SIR ANTHONY O'Reilly's pay as chief executive of Independent News Media (INM) rose to €2.21 million last year from €1.82 million in 2006, the firm disclosed in its 2007 annual report.

The combined remuneration of Sir Anthony, four other executive directors and a seconded director rose to €10.03 million from €8.88 million. The overall pay of INM's non-executive directors was €1.63 million, down from €1.64 million.

Sir Anthony - whose INM dividends for 2007 amount to more than €31 million - received a salary of €980,000, a €750,000 bonus, pension payments of €450,000 and fees of €5,000.

Brendan Hopkins, who is on secondment as chief of INM's Australian subsidiary APN, saw his remuneration rise to €2.05 million from €1.93 million.

Chief of INM's British unit Ivan Fallon received €1.66 million, up from €1.44 million. Chief operating officer Gavin O'Reilly, a son of Sir Anthony, received €1.53 million, up from €1.41 million. Vincent Crowley, chief of INM's Irish unit, received €1.43 million, up from €1.28 million. Chief financial officer Donal Buggy received €1.15 million, up from €1.01 million. INM, which has declared 21 per cent shareholder Denis O'Brien a "dissident" investor, made no mention of him in the annual report other than to say that he notified the firm that he held 20-22 per cent of its stock in April.

Sir Anthony praised the business and its management in his review of 2007. "We make no apologies for saying we are the right company with the right products, and we intend to work these products for the benefit of each and every one of our shareholders."

Sir Anthony has been selected as "Media Person of the Year" by the Cannes Lions International Advertising Festival. Previous winners include media tycoon Silvio Berlusconi, prime minister of Italy.