The Week: City News - INM rejects O'Brien's calls

The board of Independent News & Media has rejected calls from the rebel shareholder Denis O'Brien to either close or sell The Independent and The Independent on Sunday newspapers.

O'Brien has claimed that a sale or closure would help the company as it tries to restructure itself financially. However, INM has dismissed the call, stating that the move would result in the incurrance of significant cost penalties against contracts that have already been guaranteed.

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