The group is set to unveil a new-look title with fewer sections and a greater emphasis on links to online content. It will simplify its package, with just a main newspaper section and a magazine.
Independent Newspapers will announce its plans this Friday, but has already sounded out some media agencies about the changes.
One agency source suggested news and other content will include recommended links to online material from sources beyond www.independent.co.uk.
The source also suggested the changes could improve advertisers' impact because they would prevent readers from reading supplementary sections on weekdays.
The newspaper also hopes the changes will bring in younger readers. IoS's average April sale was relatively flat at 249,536, a decline of 1.34 per cent.
Tristan Davies, the IoS editor, is spearheading the relaunch, which is expected to hit news-stands in a fortnight.