Irish media magnate Tony O’Reilly’s takeover of The Independent and the Independent on Sunday in April has already resulted in reduced losses at the newspapers, according to Independent Newspapers.
The company said that despite its “significant” investment in costly redesigns of the two titles, losses had been reduced and advertisers were responding well.
Independent Newspapers took control of the Independent titles by buying out Mirror Group’s 54% stake as part of an acquisition programme which totalled £IR81 million (£67.5 million) in the first half of the year (see Industry Reacts With Cautious Optimism Over Independent Move).
Independent Newspapers: 00 353 1873 1666
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