Freesheet war to hit IN&M revenue

INDEPENDENT News & Media could lose up to €2 million in revenues in the freesheet war that erupted in the Dublin metropolitan newspaper market at 6.30am yesterday morning.

IN&M is going head-to-head with the publishers of the Daily Mail which launched its free Metro tabloid.

IN&M is offering the Herald AM tabloid free to commuters to counteract the Metro. Analysts said the cost of the launch to the Indo in Ireland would be up to €2m while the impact on profits could be up to 3 cents per share in the second half of 2005.