Call for sale of two INM London titles

ADVISORS to Denis O’Brien have called for Independent News & Media (INM) to sell its loss-making London-based newspaper titles – claiming that they are losing €27 million per year/€75,000 per day.

And they believe the return of the two London titles – The Independent and Independent of Sunday – to profitability is “unrealistic”.

INM has suggested that the London titles could break even within the next 15-18 months, but research prepared for Mr O’Brien (who, with a near 26% stake, is INM’s second largest individual shareholder) claims this is “both unrealistic and untenable”.