Dublin-based Independent News and Media (IN&M) Plc, which owns the British national newspaper Independent, and the Russian businessman Alexander Lebedev, who already owns the London Evening newspaper, last month announced the conclusion of the sale of the news flagship. The British Office of Fair Trading has already approved the deal. “IN&M is pleased to announce the disposal of its media assets to Independent Print Ltd (IPL), a company controlled by the Lebedev family, the IN&M said.
From his side, Lebedev noted that he is a supporter of in-depth investigative reporting that promotes transparency and fights international corruption. “These are things the Independent has always done well and will, I hope, continue to do.”
Negotiations on the deal lasted for several months as the parties could not agree on the final sale conditions. Eventually, the Russian got the media for a symbolical one pound, the retail cost of one copy. Besides, INM will also pay IPL 9.25mln pounds over the next ten months, in exchange for its assuming all the liabilities of the iconic newspaper currently on the verge of bankruptcy.
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