In the cynical world of Dublin journalism, renowned for its begrudgery, the news that Damien Kiberd, the editor of the Sunday Business Post, had become a millionaire was greeted with uncharacteristic charity and even fondness.
Mr Kiberd and his deputy editor, Ms Aileen O'Toole, along with the chief executive of the Sunday Business Post, Ms Barbara Nugent, each received over £1 million following the sale of the newspaper to the British media company, Trinity International Holdings, which also owns the Belfast Telegraph.
When Mr Kiberd addressed the staff on Tuesday, it was clear that such riches fell uneasily on his shoulders. He seemed embarrassed and spoke in solemn tones of the benefits to the newspaper. Later he mumbled that his windfall was for his family.
If some of the staff felt that their contribution in taking the newspaper from a circulation of just over 25,000 to 42,000 received little recognition no one blamed Mr Kiberd.
It is believed that Mr Kiberd had been uneasy about the deal, which leaves him as an employee for the first time since the newspaper's foundation in 1989.
Despite his strong nationalist views, evident in his opinion pieces and editorials, he has never opposed British companies investing in the Irish media. In the early years the British owner of the Financial Times, Pearson, was courted as an investor. A few years ago Mr Kiberd forged an unlikely alliance with Mr Conrad Black, the owner of the Tory-supporting Telegraph group, when it sought to buy the Irish Press group.
For Mr Kiberd, the dominance of Independent Newspapers poses a greater threat to diversity within the Irish media than any possible investment by British publishers. It is probably the vulnerability of the Sunday Business Post, with only 3 per cent of Sunday sales, facing Independent Newspapers, which owns or bankrolls all other Irish Sunday newspapers, that persuaded him to sell his shares and so give his newspaper a sound financial future.
However, the deal means that Trinity is not a partner but the 100 per cent owner. This means that Mr Kiberd has nothing more, apart from £1 million, than a two-year commitment as editor.
He was born 41 years ago in Dublin. His father was a salesman and his mother a civil servant. He was educated at Belgrove National School, where one of his teachers was the author John McGahern, and then at St Paul's, Raheny. While he was awarded an English scholarship to Trinity College, he took a degree in economics and edited a student newspaper.
He decided against further study and worked for the State rescue agency, Foir Teoranta, before joining the Irish Press newspaper. It was the atmosphere of the Irish Press newsroom in the late 1970s and early 1980s which clearly influenced much of his thinking. He sees himself as an ordinary hack, the reporter in love with hard news. He has no office in the Sunday Business Post, just a desk in a corner of the newsroom. He is popular and considered fair by the journalists who work with him.
In a strange way, with the Irish Press gone, Mr Kiberd somehow embodies the values of that newspaper. He is nationalist and very pro-business, especially small business. He also tries to challenge what he sees as a consensus within the Irish media.
He has strong and thoughtful views on journalism. At a conference in Dublin last year he spoke of the lack of internal debate within journalism. He spoke of "pack journalism " leading to uniform opinions.
He claimed reporting had been replaced by opinion, and as the necessity to research facts by contacting members of the public evaporated, journalists became dangerously out of touch. He spoke of a "cognitive elite" which may seek to change society in a manner which many may not welcome.
Mr Kiberd became finance editor of the Irish Press. He left for a period and went to the Sunday Tribune, but returned for a short period, before leaving to set up the Sunday Business Post.
The original members of the Sunday Business Post were Mr Kiberd, Mr Frank Fitzgibbon, Mr James Morrissey and Ms Aileen O'Toole. A fifth finance journalist was approached but did not join. Mr Fitzgibbon left after a disagreement with another shareholder and Mr Morrissey left for a different career.
The early days of the Sunday Business Post were not happy. At one stage the French shareholder, Euroexpansion, put in Ms Jane Tolson as chief executive. Overheads were so high that one-third of the staff was let go. Workers spoke of a policy of "slashing and burning".
Stories circulated that things were so bad that meetings of the National Union of Journalists were conducted in Irish to baffle the English chief executive.
Ms Tolson's contract was for two years. She was replaced by Ms Barbara Nugent and, after a restructuring of the shareholding, the management ended up with a controlling interest, which it maintained until last week.
It is when one recalls those early days that one realises why Mr Kiberd's and Ms O'Toole's journalistic colleagues do not begrudge them the money. They risked their own financial security, secured loans, negotiated with investors and sought printers. For three years the future of the Sunday Business Post was on a knife-edge.
It is also the experience of those early days that has left Mr Kiberd with a great respect for business and business people.
He lives in Ranelagh, Dublin, with his wife, Ms Terri Griffin, whom he met in the Irish Press group, where she was a journalist. They have a boy and a girl. His interests include sport, especially cricket, current affairs, politics and business.
Factfile Name: Damien Kiberd Occupation: editor, the Sunday Business Post Family: married to Terri Griffin. Has a son and a daughter Why in The news: the Sunday Business Post was sold to Trinity International Holdings, a UK company, for £5.55 million. Mr Kiberd collects £1 million.