Yesterday's trading statement by Independent News & Media about its willingness to sell off loss-making businesses may not have referred directly to the fate of The Independent, but media correspondents are convinced the paper is now in play.
The headline in The Times is unequivocal: Sir Anthony O'Reilly open to offers for The Independent newspaper. The story says:
"Sir Anthony O'Reilly effectively put The Independent up for sale yesterday after saying that he was willing to consider offers for his struggling newspaper, which loses about £10m a year.
The move... would mark the end of 11 years in which the London-based title has topped his global newspaper group. A potential buyer is Alexander Lebedev, the former KGB officer who recently bought the Evening Standard and who knows Simon Kelner, the managing director of INM."
The Financial Times, under the headline No sacred cows for bullish O'Reilly reports: "Talks with the Russian oligarch Alexander Lebedev are still going on, though at an early stage, for the possible sale of the London papers, according to people close to the INM management."
The Wall Street Journal's headline reads Media group weighs UK newspaper sale. The Daily Telegraph's story, INM considers sale of Independent newspaper titles, says: "Conversations have already been taking place with potential buyers for the Independent titles, thought to include Evening Standard owner Alexander Lebedev, though little progress towards a sale has been made."
And the Irish Times believes the disposal of non-strategic core assets "may herald the disposal of loss-making London Independent, a sacrifice that would yield but a small return up front but which would ease pressure on profits."
