Carlton Communications, the television company which has the independent TV franchise for London, and a stake in ITN, is interested in acquiring a stake in Newspaper Publishing, owners of The Independent and Independent on Sunday.
The move is seen as a challenge to the regulations limiting cross-ownership of newspaper and TV stations, and to media magnate Rupert Murdoch. Carlton at present would only be allowed a 20% stake in Newspaper Publishing. Rupert Murdoch can own both newspapers and BSkyB because the TV station is broadcast by satellite. Other possible investors who have expressed an interest include Associated Newspapers and Mirror Group Newspapers. (Newsline 7/9)
The Independent is thought to be looking for up to £20m in backing to see it through a planned revamp, as well as a period of uncertainty following the Times’ price cut. On Friday the Independent asked for the Office of Fair Trading to investigate the price cut – which could amount to unlawful practice under the 1980 Competition Act.
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