The Week: City News - Independent titles for sale

Sir Tony O'Reilly's Independent News & Media has effectively put its Independent titles up for sale by pledging to dispose of "any loss-making businesses".

Some reports suggest that the Russian businessman Alexander Lebedev, who recently bought a 75 per cent stake in the loss-making Evening Standard, is interested in the titles, which are believed to be losing at least £10 million per year. IN&M has a EUR200 million bond that is due in May. The company is also trying to sell the German price-comparison site Verivox and the UK gaming website Cashcade, which operates FoxyBingo.com.