The group said there was no certainty that the discussions would be successful, but it said the acquisition would create the UK’s fourth largest print publisher with over 600,000 paid copies a day.
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In a statement to The Drum a Johnston Press spokesperson said: “The Board of Johnston Press notes the recent media speculation and confirms that it is in late stage discussions with Independent Print Limited (IPL) for the potential acquisition of the business and certain assets of the i”.
The i newspaper, which has had its cover price raised twice since its launch to 40p, has been largely credited in helping The Independent stay afloat. That is almost five times as many copies as the Independent, which sells for four times as much per copy as the 40 pence charged by its sister title.
Evgeny Lebedev bought the Independent for £1 in 2010.
Independent Print is controlled by the family of Russian oligarch Alexander Lebedev, whose ESI Media confirmed by email that it is in talks with Johnston regarding the sale of i, but that no decision had been made.
The attraction for Johnston Press, publisher of the Scotsman and Scotland on Sunday, is the addition of a national title to its stable of 200 plus local and regional newspapers.
It is understood that Daily Mirror publisher Trinity Mirror was initially interested in buying the i, but is now said to be considering launching its own cut-price daily tabloid.
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Johnston said it would use its digital expertise “to fully realise the i brand across digital platforms”, adding that its network would enable “cross-promotion to grow audiences at minimal cost”, while the national brand would enhance its 1XL regionally-oriented digital display network. Johnston Press also named the i’s growing circulation revenues as key benefit of the prospective takeover.
