Independent set to close in a week without buyer
The Aberdeen Independent says it will close within a week if a buyer cannot be found for the 12 year old free weekly newspaper.
The title was launched 12 years ago to offer businesses an alternative to Aberdeen Journals, which had a virtual monopoly in the area. The launch led to a bitter battle which ultimately saw Aberdeen Journals – then part of Northcliffe – being fined £1.3m for attempting to put the Independent out of business by offering cheap advertising in its own free newspaper.
Folding the title would lead to 30 job losses including four journalists. It is understood that the business currently has debts of around £200,000, although it claims its asset value is nearer to £300,000.
Eric Farquharson, managing director of the newspaper, said that hopes were fading that a buyer would be found, but that there had been ‘expressions of interest’ while local businessmen were also considering making investments into the title, but at the time of writing, nothing was close to being finalised.