The Independent and Independent on Sunday are moving to Northcliffe House, home of Associated Newspapers. The move comes a week after parent company Independent News and Media announced cost-saving measures of £10m.
INM has signed an agreement with Associated, publisher of the Daily Mail and The Mail on Sunday, under which it will have its own dedicated office space and will share some back-office services.
The Independent titles have been under severe pressure to cut costs as the newspapers face falling sales and advertising revenues. Recently installed editor Roger Alton sanctioned a price increase to £1 in September that has also damaged sales.
The two publishers’ editorial, management and commercial operations will remain separate, and the Independent titles remain under full ownership of INM.
INM UK chief executive Ivan Fallon says: “This move will transform the prospects of Independent titles. We will have immediate cost savings when we move offices and take maximum advantage of the resources and services offered to us by our partners at Associated to create better and more commercially viable newspapers, while staying true to the editorial values we cherish.”