Independent News & Media (INME.I) is likely to close its flagship London title The Independent by Christmas, the publishing group’s second biggest shareholder Denis O’Brien said on Friday.
“There’s no point in us as a company subsidising a newspaper that really nobody wants to read in the United Kingdom,” O’Brien told Bloomberg TV in an interview on the sidelines of the Global Irish Economic Forum.
“It’s not a relevant newspaper anymore and this newspaper’s going to be closed by Christmas,”said O’Brien, who has been at odds with the company’s board over plans to refinance a 200-million-euro debt issue that was meant to be paid in May.
Hat tip: Edmund Standing
