(Adds reaction)
By Kate Holton and Paul Sandle
LONDON, Feb 12 (Reuters) - Britain's Independent is todisappear from news stands next month after its owner took theleft-leaning title online only, one of the first nationalnewspapers in the world to buckle under pressure from theinternet.
Launched by a group of journalists in 1986 with the slogan"Independent, it is - are you?", the Indy built a high-mindedreputation by pursuing often radically different stories fromrivals, with a heavy focus on international news.
While other titles splashed popular fare like weddings,births and deaths of the royal family, the Independent focusedon wars in the middle east and developments in science. Ratherthan pick sides within the highly partisan British politicalculture, it sought to remain non-aligned.
In its 1990s heyday it briefly sold more copies than RupertMurdoch's Times newspaper, but from a peak of around 400,000copies a day then, circulation has fallen to little more thanone-tenth of that figure today despite innovations like movingto a tabloid from broadsheet format.
"It is quite clear that the digital revolution is eating ournews print industry and it's just a matter of time before itswallows the lot whole," Roy Greenslade, a former editor of theDaily Mirror and media commentator, told Reuters.
The Independent was bought by Russian billionaire and formerKGB agent Alexander Lebedev for 1 pound in 2010. The pressuresthat have grown since are being felt in newsrooms around theworld.
Just last month, the Guardian newspaper set out plans to cutrunning costs by 20 percent after its strategy of building oneof the most popular websites in the world failed to make up forfalling print sales. In America such storied titles as the NewYork Times are desperately slashing costs and seeking to growdigital subscribers.
But few media organisations have managed to achieve theright balance as big brands pay less to advertise online thanthey would in a newspaper, and pay even less again to advertiseon mobile sites, where many people now access their news.
Many media organisations, witnessing the rapid growth ofwebsites like Buzzfeed, have turned to so-called clickbait newswith its often teasing headlines, designed to draw as manyreaders as possible to boost advertising sales.
In order to broaden its appeal, the Independent had launcheda profitable, smaller sister title the "i", which it has agreedto sell to regional owner Johnston Press.
The Independent's last paper edition is expected to be onSaturday March 26 with the last Independent on Sunday on thepreceding Sunday March 20.
"This decision preserves the Independent brand and allows usto continue to invest in the high quality editorial content thatis attracting more and more readers to our online platforms,"said Evgeny Lebedev, Alexander's son, in a statement on Friday.
ESI Media, Lebedev's commercial division, said it wouldcreate 25 new digital content roles, launch a new subscriptionmobile App and continue to invest in quality journalism.
"It is sad but inevitable," said Greenslade. "Its sales hadfallen so low and no one can sustain a national paper on thatbasis." (Additional reporting by Rahul B in Bengaluru, editing byStephen Addison)
