The media firm controlled by former RTÉ presenter, Ryan Tubridy, has paid out €882,001 in directors' pay over the past two years, newly filed accounts show.
The accounts lodged by the broadcaster’s Tuttle Productions Ltd with the Companies Registration Office (CRO) show that the €441,077 paid out to directors last year followed €440,924 paid out to directors in 2021.
The directors’ pay last year was made up of €426,357 in remuneration and €14,720 in pension contributions.
The decision by Tubridy to disclose directors' pay for Tuttle Productions is a move towards greater transparency in the financal affairs of his media firm.
As a result of the hefty directors’ payout, the firm recorded a modest loss of €1,318 for 2022 and this followed the company recording post tax profits of €13,629 for 2021.
Cash funds at Tuttle Productions totalled €7,489.
The recently appointed Virgin Radio UK presenter sits on the board of the firm with his mother, Catherine Tubridy. The firm employs two people.
The former best paid presenter on RTÉ referred to his high pay before the Dail Public Accounts Committee (PAC) in July when he told members: "I understand that the amount of money we’re talking about is eye-watering, I’m not a fool, I understand that. But I haven’t changed as a person over those years, despite the extraordinary bank balance."
The 2022 year covers the period when RTÉ paid Mr Tubridy the contentious €150,000 payment made by Renault under a tripartite agreement between the broadcaster, the presenter and the carmaker.
The €150,000 payment came via a barter company. The disclosure of the secret payments in June plunged RTÉ into crisis resulting in a €56m Government bailout earlier this month after the station had announced 400 job cuts by 2028 amidst plunging licence revenue income.
The former RTÉ radio host had indicated that he would be willing to pay back €150,000 from two years of a commercial deal with Renault for events that never went ahead prior to RTÉ Director-General, Kevin Bakhust breaking off negotiations in August on Mr Tubridy’s return to air on RTÉ.
RTÉ is due to publish its top ten earners for 2022 shortly where Mr Tubridy is again expected to be the top earner. In amended figures, RTÉ stated last June that Mr Tubridy earned €515,000 in 2021.
In an interview earlier this month, the broadcaster said that RTÉ is now in his "rear view mirror" and that his new show on Virgin Radio starting on January 4th is his "new home".
He said: "I loved working in RTÉ. I worked with the best in the business in RTÉ. I had the best team in the business and they remained steadfast and loyal and kind, and I do miss them. I will always cherish my time there."
The disclosure of directors’ pay in the accounts for Mr Tubridy’s Tuttle Productions Ltd marks a departure from recent years when the accounts did not disclose pay to directors.
The last time that the firm disclosed directors pay was in 2017 for the 16 months for the end of December 2016 which was €473,138.
Mr Tubridy was not alone in not disclosing directors’ pay in his accounts as a number of other high profile presenters also don’t reveal directors’ pay in their own company accounts.
The accounts were signed off by Ryan Tubridy and Catherine Tubridy on November 22nd.
In July, Tubridy signed off on deferring filing his media firm’s annual accounts for 2022 until later in the year, amidst the ongoing controversy over payments made to Tubridy’s firm by RTÉ.
As a small company, the firm is not required to disclose its revenues.
In his appearance at the PAC last July, Mr Tubridy expressed a strong desire to return to his Radio One presenting job.
Before the committee, he said he wanted to "go back to work on the radio as soon as possible."
He said: "It’s what I do, it’s what I know. It’s my job, it’s all I’ve got."
The presenter maintained before the committee that he was "dragged into a mess," telling TDs that his reputation has been "desperately sullied" by the payments controversy at the public broadcaster.
"I’m deeply upset, I'm hurt. It’s hard to leave the house," he said.
- reporting by Gordon Deegan
