Statement on the Observer sale: Statement by Andreas Whittam Smith, chief executive of Newspaper Publishing plc and editor of the Independent
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.AFTER a failure to reach agreement on outstanding issues, negotiations broke down on Wednesday between Newspaper Publishing and Lonrho over the future of the Observer newspaper.
Because of the requirement for confidentiality when the negotiations were in progress, it was not possible for either the Independent or the Independent on Sunday to report a story which was extensively covered and commented upon by rival newspapers.
As a consequence, a false impression of the nature of the discussions between Newspaper Publishing and Lonrho has been allowed to develop unchallenged.
To set the record straight:
1. Lonrho first approached Newspaper Publishing some months ago after it had concluded that it no longer wished to sustain the large losses which the Observer was making.
2. The intention of both parties was never to close the Observer down, but to bring about a genuine union between the Observer and the Independent on Sunday involving the staff of both newspapers.
3. The result of the union would have been the continuation of the title and tradition of the Observer. It would also have meant the establishment of a more powerful liberal voice than the Sunday market has seen for many years.
While Newspaper Publishing could not reach a satisfactory agreement with Lonrho, the board is committed to applying those resources which are necessary to realise the expansion plans of both the Independent and the Independent on Sunday. Furthermore, having made a profit in the first six months of the year under intensely difficult trading conditions, both titles are now feeling the benefit of an improving economy. The Independent and the Independent on Sunday can move forward with confidence.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments