REVIEW: Independent News & Media to sell of its regional newspapers

Sir Tony O'Reilly's Independent News & Media is set to sell off its regional newspapers and hold a rights issue, in a bid to raise cash. The owner of the Independent titles and the Belfast Telegraph will make £59.6 million from the sale to Newsquest, part of Gannett UK. It is also seeking to raise a further £69.8 million with the sale of 153 million new shares at 0.7 euros. - Media Guardian.