The Indy could close by Christmas


by Newswire    
September 19, 2009 at 12:18 am

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.

….more at Reuters


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RT @libcon Indy could close by Xmas! http://bit.ly/97iL3 Maybe if the Graun closes too, the GP might aim at non-Graun/Indy readers for once?

Forget about saving the Observer, if @libcon is to be believed, saving the Indy is more important to me! http://bit.ly/97iL3

WOAH! RT @libcon: The Independent could close by Christmas http://bit.ly/97iL3

Reading: The Indy could close by Christmas: Independent News & Media (INME.I) is likely to close its.. http://bit.ly/1zz3o3

Serves them right for trying to turn into a tabloid with their absurd front pages.

The guy who said this doesn’t run the company.
He wants to run the company, but he doesn’t.
So really this is a non-story.

Given the personal emnity between him and the guy that actually does run the company, the effect of this statement may actually be to help shore up the Indie.

Having said all that, it’s pretty clear that the paper is on its last legs.

Liberal Conspiracy » The Indy could close by Christmas: “It’s not a relevant newspaper anymore and this newspape.. http://bit.ly/1zz3o3

RT @pickledpolitics: RT @libcon: Article: The Independent could close by Christmas http://bit.ly/97iL3 – oh lord, more journos out of work..

Strategist is right. The Indy may indeed be doomed but I wouldn’t set any store on what O’Brien says about it.

This should embolden GMG to keep the Observer; Indy readers are surely more likely to switch to the Guardian/Obs than to any other paper.

“Indy readers are surely more likely to switch to the Guardian/Obs than to any other paper.”

All five of them?

:-)

For real this time? Hope not.RT @thedharmablues RT @libcon: Article:: The Indy could close by Christmas http://bit.ly/97iL3

Have blogged about this here.
http://www.nextleft.org/2009/09/save-indy.html

Yes, it is a destructive move as part of a board power struggle, but the risk to the paper may also be real in the current market. If there are any non-cynics here, I think that would matter to our media pluralism and public discourse

@callumsaunders @LaraNewman Indy could close by Xmas – http://bit.ly/Kb7dt

Maybe left wing broadsheets should become more loyal to labour, they need to be more partisan.
Who are they playing to? Who do they want to be loyal to them?
The left wing broadsheets are to disloyal to labour.
I never feel like buying the guardian or independent as they do not seem loyal to the the left. I might as well buy the telegraph or even the times. I never would have bought the times in the past, what with with murdoch owning it but the guardian and independent are so wissy wassy in their support for labour i do not feel a need to loyal to them. I even got banned from CIF for being left wing. So I lost any need to feel loyalty to them.

They need to be partisan, and loyal so labour supporters feel it is their paper.

I should be really sad to see the Independent fold for it offers fresh, argued insights without the predictable partisan bias of so many national dailies. But the unhappy fact is that almost all of the national dailies were losing circulation when I could last find and check reputable circulation figues – only the FT was gaining circulation.

The trouble is the Internet. If we can get all the news and comment we want for free, why buy a daily paper? One consequence was James Murdoch’s lecture attacking the BBC. Another is that many papers are trying to figure out how to charge for Internet access without frightening off the horses.

The Indy might close by Christmas.

Yipee! Early Christmas present

Why buy a daily paper? Because you can read it in the tube where Internet access is non-existent and it acts as a handy barrier against conversation on the daily commute into the office. Further you shouldn’t be using the office computers for personal reading now should you?

The Indy was always a bit of a minority interest organ. The big three (Telegraph (right), Times (establishment) & Grauniad (left)) had the broadsheet (read serious) market sewn up for years. The Indy didn’t really fit with a third of the readership of the first two and half of the Grauniad.

Never mind the human costs of all those Blairite wars, media giving frontpage publicity to such unpleasant and unwelcome news about the rising costs to the exchequer of the wars in Afghanistan and Iraq are apt to be unpopular in predictable quarters.

“The costs of military operations in Afghanistan and Iraq this year [fiscal 2007/8] are likely to almost double to £3.297bn, a committee of MPs has warned.”
http://news.bbc.co.uk/1/hi/uk_politics/7287525.stm

“The cost of Britain’s military operations in Afghanistan and Iraq this financial year [fiscal 2008/9] has soared to more than £4.5bn, an annual increase of more than 50%, figures released yesterday reveal.”
http://www.guardian.co.uk/world/2009/feb/13/afghanistan-iraq-bill-british-military

Hush: don’t mention that the state of our public finances would be in a much better state if it were not for the continuing costs of all those military engagements.

“LONDON — U.S. President George W. Bush and British Prime Minister Tony Blair have taken a ‘shoulder-to-shoulder’ stance on Iraq — literally. On April 6, 2002, the two leaders emerged from four hours of talks at the president’s Texas ranch, stood side by side for the cameras and declared their undying opposition to Saddam Hussein’s regime.”
http://www.prospect.org/cs/articles?article=ocean_apart

Btw the unhappy fact is that circulation of most of the national dailies is falling, as is their advertising revenues. The worry ahead is that increasing numbers of mobile phones are offering Internet access. The complaint about the BBC is that its website offers free access to instant news, which rather limits the opportunities of the national dailies to charge for online access.

RT shame, but not surprising @libcon http://bit.ly/97iL3

I agree with Sunder. I like having a choice between the Guardian and The Independent when I want something paper-based to read. I also agree that easy internet access to news is a major challenge for newsprint. Maybe if online newspapers introduced a small annual/monthly subscription (to supplement their advertising) that wouldn’t ‘frighten the horses’ too much? Even though Bob B’s point re. the BBC is a valid one, surely we want to access more than one news outlet?

Well I buy the Indie and will be sorry to see it go. We have very few Liberal newspapers as it is, and the idea that we will one day just receive our propaganda (sorry news) form just the Torygraph, The Daily Wail or Murdoch for our news is very unhealthy.

Personally I don’t think the paper has helped itself buy trying to accommodate Conservative views. I for one no longer buy the paper on Mondays because that is the day they have the discredited tory tub thumper Bruce Anderson. The man is an idiot, and has been wrong about almost everything. His earlier columns about GW Bush, are in hindsight, comedy gold. Bush was a man of integrity , apparently , and would only promote people on merit. Tell that to the people of New Orleans Bruce.

RT @libcon Liberal Conspiracy » The Indy could close by Christmas http://bit.ly/SSjAz

The Indy stopped being independent when it tried to compete with the Guardian.
There are plenty of people who disagree with the Times, Telegraph and Guardian . However the Indy has a feeling of being very London /metropolitan in it’s outlook.
From what I have seen, plenty of middle of the road people buy regional papers in the west, northwest and northwest of the UK.

Great news, hope The Guardian is next.


Reactions: Twitter, blogs
  1. Ryan Bestford

    Forget about saving the Observer, if @libcon is to be believed, saving the Indy is more important to me! http://bit.ly/97iL3

  2. Chris Coltrane

    WOAH! RT @libcon: The Independent could close by Christmas http://bit.ly/97iL3

  3. Naadir Jeewa

    Reading: The Indy could close by Christmas: Independent News & Media (INME.I) is likely to close its.. http://bit.ly/1zz3o3

  4. christ_mas

    Liberal Conspiracy » The Indy could close by Christmas: “It’s not a relevant newspaper anymore and this newspape.. http://bit.ly/1zz3o3

  5. christ mas

    Liberal Conspiracy » The Indy could close by Christmas: “It’s not a relevant newspaper anymore and this newspape.. http://bit.ly/1zz3o3

  6. Chie Elliott

    RT @pickledpolitics: RT @libcon: Article: The Independent could close by Christmas http://bit.ly/97iL3 – oh lord, more journos out of work..

  7. topsy top20k

    Article:: The Indy could close by Christmas http://bit.ly/97iL3

  8. Gaia Vince

    For real this time? Hope not.RT @thedharmablues RT @libcon: Article:: The Indy could close by Christmas http://bit.ly/97iL3

  9. mervino

    @callumsaunders @LaraNewman Indy could close by Xmas – http://bit.ly/Kb7dt

  10. Elinor Taylor

    RT shame, but not surprising @libcon http://bit.ly/97iL3





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