Losses at Independent News & Media's (INM) prestige UK titles widened last year to £15.7m, or €24.5m, according to the Guardian newspaper's website.
The paper reports that recently filed accounts at the UK Companies Office, show The Independent and Independent on Sunday increased losses in 2001 by 50%, despite a cost cutting drive. Turnover has fallen to £70.5m from £74.5m in 2000.
The latest UK circulation figures show both newspapers' circulations were 11% lower in September than a year ago.
Separately it is reported that an INM bid for the Scottish Media Group's Herald titles would trigger a competition investigation, and this is putting off the sellers from pursuing a deal with INM.
