Businessman Denis O’Brien has lost his libel action against the Sunday Business Post.

A jury has found that Mr O’Brien was not defamed in a series of articles by the paper.

The businessman had sued the newspaper over the articles from March 2015 which were about a report into the Irish banks at the time of the financial crisis.

The Sunday Business Post denied defamation and said the articles did not mean what Mr O’Brien claimed.

Following just over seven hours of deliberations, the jury decided Mr O’Brien was not defamed in the articles.

The Sunday Business Post released a statement this afternoon saying they welcome the verdict of the jury in the High Court today to reject a claim of defamation made against the paper by Mr. Denis O’Brien in respect of the paper’s coverage in 2015 of a matter of significant public interest.

They added that “While the article which led to this action predated the purchase of the Sunday Business Post by Kilcullen Capital Partners, the issues raised are of critical importance for the media in Ireland and therefore the new owners were happy to support the paper’s defence of this claim.”

CEO Siobhán Lennon said “The Sunday Business Post prides itself on its independence and objectivity. Now more than ever a strong, independent and objective media is essential to a functioning democracy.”

“The case highlights the extent to which Ireland’s defamation laws place significant constraints on all Irish media outlets in their efforts to provide robust, objective and fair scrutiny of the stories that matter to Irish democracy. We believe it is time for action to reform the relevant defamation laws and to ensure that the media are liberated from unreasonable pressures which currently exist”.

Lennon said she would like to thank Michael McDowell SC, Shane English BL, John Doyle of Dillon Eustace, Tom Lyons former business editor and Ian Kehoe former editor of the paper for their time and robust defence of this case.