LONDON — An obstacle to the sale of Britain's Independent newspaper to businessman Alexander Lebedev could soon be removed, as issues surrounding the printing of the newspaper were expected to be resolved.
Newspaper publisher Trinity Mirror, which also prints Independent News & Media's loss-making flagship newspaper, said Thursday that everyone concerned was working towards a speedy resolution.
The Financial Times reported last month that long-running talks between Lebedev and INM were being held back by issues thought to include the printing contract, which would cost more than £15 million ($23 million) to break.
"Everyone involved in the printing arrangements for the Independent is looking for a swift resolution, which we expect to be very soon," Trinity Mirror chief executive Sly Bailey told journalists after reporting 2009 results.
An industry source said last week that talks over the Independent and its sister paper the Independent on Sunday had made progress, and a deal should be done, possibly this week.
Lebedev last year acquired a majority stake in another British newspaper, the London Evening Standard, from Daily Mail & General Trust. He turned it into a free paper and doubled its circulation.
Lebedev and INM entered into an exclusive nonbinding agreement about the two Independent newspapers in December.