Independent Newspaper Set To Close In March

The Independent and Independent on Sunday newspapers are to cease publication and go online only, its owner has announced.

ESI Media said The Independent, launched in 1986, would become "the first national newspaper title to move to a digital-only future".

It said there would be "some redundancies among editorial employees", with the number affected to be confirmed after a consultation period. The FT said 100 jobs were at risk but a spokesman was unable to confirm the figure.

In a letter to staff, owner Evgeny Lebedev predicted other papers would follow suit. He said: "We will be the first of many leading newspapers to embrace a wholly digital future."

The daily newspaper's final edition will be published on 26 March and its Sunday sister title will publish for the last time on 20 March.

Over the years and under different owners, readership and advertising revenues have tumbled. From a peak of around 400,000 copies a day, circulation has plunged to just over 40,000. The Sunday paper sells just under 43,000 copies.

Meanwhile, the publisher has sold The Independent's cut-price daily version, the i, to regional publisher Johnston Press for £24m. With a cover price of 40p, compared to The Independent's £1.60, it has a circulation of 275,000.

The newspapers are part of a group controlled by the Lebedev family. Its other media assets include London's Evening Standard and local TV station London Live.

ESI said as part of its latest announcement that it was creating 25 new digital content roles.

It added that due to the expansion of independent.co.uk, new editorial bureaux would open in Europe, the Middle East and Asia and its US operation expanded.

The publisher said that the Evening Standard "which continues to grow as a profitable and successful newspaper brand in its own right" would be unaffected.

The Independent was set up three decades ago by a group of journalists led by Andreas Whittam Smith with the slogan "it is - are you?" - emphasising its freedom from the influence of proprietors.

It has employed high-profile journalists including Andrew Marr, Robert Fisk, Will Self and Helen Fielding - whose Bridget Jones character started life as a column in the newspaper before becoming a hit novel and blockbuster film.

The Independent on Sunday was launched in 1990.

But the papers have become the highest profile casualties of the change in reading habits brought about by the internet.

In 2010, ESI Media bought the titles from Irish tycoon Sir Anthony O'Reilly for just £1.

Evgeny Lebedev said in a statement on Friday: "This decision preserves the Independent brand and allows us to continue to invest in the high quality editorial content that is attracting more and more readers to our online platforms.

"The newspaper industry is changing, and that change is being driven by readers. They're showing us that the future is digital."