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July 28, 2009

Lebedev in Independent takeover talks, reports claim

By neilvowles

Alexander Lebedev last week met Gavin O’Reilly, chief executive of Independent News & Media, to discuss the possible sale of the Independent, claims Mediaweek, quoting ” a source close to the deal”.

The Russian owner of the London Evening Standard told Media Week: “It would be interesting and we are inside the picture. But they have certain issues to be resolved.”

Those issues could include INM’s negotiations with bondholders over debt repayments and an agreement that will need to be reached between the two parties over syndicating The Independent’s content to other papers in the INM stable.

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