Sales drop for The Independent

THE Independent newspaper in London recorded its lowest ever monthly sales in October, spelling more bad news for its owner, International News and Media (INM), The Times of London reported.

While the Pacific focuses on the potential sale of INM’s dominant 39 percent stake in APN News and Media, the Irish-based parent company is fighting on the British front under pressure from shareholder Denis O’Brien, who wants INM to sell off The Independent instead of APN to service debts of $US1.8 billion.

The Independent headline sales were down 9 percent to 201,019, and full-rate sales fell 19.4 percent to 119,507, the report said. The daily raised its cover price 20p to £1 and cut down on giveaways in October.

Advertising dropped between 10 and 15 percent, in line with the trend other publications were experiencing, The Times said.

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