A billion-euro pension fund with a comparatively small broadcaster attached: This is the picture painted by the accounts included in RTÉ’s annual report for 2021 and released a few days ago. At first glance, “pension assets” already appear as a significant part of the public broadcasting group’s balance sheet. They account for €147.7 million, which accounts for the majority of RTÉ’s fixed assets of €219.6 million. For all the periodic talk about the value that could be unlocked from land at the Montrose campus, pension assets are worth more to RTÉ than double its property, plant and equipment. Yet this…

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