Businessman Denis O'Brien has increased his stake in Independent News & Media to 7.28%, according to a statement to the stock exchange.
Dr Tony O'Reilly and his family own just under 27% of the group. The company is valued at €2.8 billion, making Mr O'Brien's stake worth more than €200m. The group publishes the Irish Independent, Evening Herald and Sunday Independent titles in the Republic.
Last year Mr O'Brien took the market by surprise by purchasing 3% of the company, and increased his stake to 5% earlier this year.
Mr O'Brien has not made clear his long-term plans, but any attempt at a takeover would be difficult with the O'Reillys owning over a quarter of the company.
Shares in Independent closed up eight cent at €3.75 in Dublin.
