Mr Oliver Barry never told Mr James Stafford the rumour that there was a "shopping list" for radio licences, counsel for Mr Barry has told the tribunal.
The tribunal also heard no request was made for money for the former government press secretary, Mr P.J. Mara, at a meeting of Mr Barry, Mr Mara, Mr Stafford and the businessman Mr Dermot Desmond.
Mr Stafford, former Century director, told the tribunal in July that Mr Barry, also a Century director, had said that if he wanted a radio licence he would have to pay. "You're going to have to pay money to Ray Burke and P.J. Mara," Mr Stafford told the tribunal Mr Barry said.
Mr Senan Allen, counsel for Mr Barry, yesterday said Mr Barry was friendly with Mr Ray Burke and Mr Mara and it was "inconceivable" that he would spread such a rumour.
Mr Stafford said: "I know Mr Barry was friendly with Mr Burke and Mr Mara and I wouldn't necessarily say he was spreading rumours but he certainly told me that's what the rumour was . . . I can only say what I was told."
"Mr Barry would say there was no such rumour," Mr Allen said.
Mr Stafford said he was clear who had told him the rumour.
Mr Allen also said no request for money was made by Mr Desmond on behalf of Mr Mara at a meeting in mid-1990 attended by Mr Stafford, Mr Barry, Mr Mara and Mr Desmond.
"It did happen and it happened exactly as I have told this tribunal," said Mr Stafford.
He said Mr Mara came to the meeting in 1990 with an unexplained demand. "I arrived, found a demand and put cold water on it and the meeting ended very quickly."
Mr Allen said that during 1990 staff working at Century Radio were "talking it up" and as a result Century received requests for jobs. He asked if Mr Mara had thought he would get a job in Century Radio because of this. "I suggest to you that over the course of talking it up . . . Mr Mara got the impression that prospects in Century were brighter than they were."
"I know nothing about Mr Mara being offered a job in Century," Mr Stafford replied.
Mr Allen questioned Mr Stafford about a list of institutional investors in Century Radio which was sent to Mr Mara.
Mr Stafford said Mr Mara was given the list by Century because he had requested it and was government press secretary at the time. He was not given it because he was a potential investor. "There was no question of anyone being offered shares."
Regarding Mr Barry's payment of £35,000 to Mr Burke, Mr Stafford said he did not question Mr Barry about a deficit in his investment in Century in March 1990. He added that he was not aware at the time that Mr Barry had used the money to pay Mr Burke £35,000.
The tribunal was shown a document of the capital contribution made by Mr Barry, Mr Stafford and Mr John Mulhern, the three owners of Century Radio. There was a deficit of £40,214 in Mr Barry's share.