Russian businessman Evgeny Lebedev will cease print editions of the Independent and Independent on Sunday newspapers, with the last publication due to go out in March.
Owners Lebedev and ESI Media said the newspapers will move to a digital-only format and that there would be “some redundancies among editorial employees.”
ESI Media said the ‘i’ – a compact sister paper – will be sold to Johnston Press, subject to approval from Johnston’s shareholders.
The last print issue of the Independent will be published on March 26, while the last Independent on Sunday will go out on March 20.
“The newspaper industry is changing, and that change is being driven by readers,” said Lebedev.
“They’re showing us that the future is digital. This decision preserves the Independent brand and allows us to continue to invest in the high quality editorial content that is attracting more and more readers to our online platforms.”
Lebedev did not reveal how many of the 150 full-time staff will lose their jobs, although ESI Media said there will be 25 new “digital-content roles.”