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September 20, 2009
He who refuses to learn deserves extinction
Voice of the People's Republic of North London, tribune for the values of champagne socialists everywhere (but mainly Canonbury), The Independent is to close by Christmas (via Jay Currie). This is not only another vindication of what many of us have been saying about the economic oblivion faced by "reality based" business models, it is a victory in our networked crusade against the enemies of civilization (citizen and barbarian alike).
Independent News & Media (INME.I) is likely to close its flagship London title The Independent by Christmas, the publishing group's second biggest shareholder Denis O'Brien said on Friday.
"There's no point in us as a company subsidising a newspaper that really nobody wants to read in the United Kingdom," O'Brien told Bloomberg TV in an interview on the sidelines of the Global Irish Economic Forum.
"It's not a relevant newspaper anymore and this newspaper's going to be closed by Christmas,"said O'Brien, who has been at odds with the company's board over plans to refinance a 200-million-euro debt issue that was meant to be paid in May.
"There's no point in us as a company subsidising a newspaper that really nobody wants to read in the United Kingdom," O'Brien told Bloomberg TV in an interview on the sidelines of the Global Irish Economic Forum.
"It's not a relevant newspaper anymore and this newspaper's going to be closed by Christmas,"said O'Brien, who has been at odds with the company's board over plans to refinance a 200-million-euro debt issue that was meant to be paid in May.
I confess a twinge of regret. The Independent was part of my life in Islington for the better part of four years. They had a good concise crossword and would publish my letters besides.
Posted by Ghost of a flea at September 20, 2009 04:16 PM
