Daily Mail owner to buy 'i' newspaper and website for £50 million

The Daily Mail Masthead.
PA Images

The owner of the Daily Mail newspaper on Friday said it would buy the "i" newspaper and website from JPI Media for a 49.6 million pound ($63.64 million) cash consideration.

Daily Mail and General Trust said that while the deal to buy the "i" provided opportunities for cost synergies, the publication would retain its editorial independence and distinctive tone.