Scotsman publisher Johnston Press has confirmed it is buying the i newspaper for £24m.

The London-based title’s sister papers the Independent and Independent on Sunday will cease to exist in print form, however their websites, still run by ESI media, will continue.

The final print edition of the Independent will be on March 26, while the last Independent on Sunday will go on sale on March 20.

The purchase comes as Johnston Press continues its staff consultation on plans to cut around 30 more jobs in Scotland.

The firm is encouraging journalists to apply for redundancies at the Scotsman, Scotland on Sunday and Edinburgh Evening News.

The new owners plan to create a new website to complement the i's print content.

Johnston Press chief executive Ashley Highfield said: “With our considerable digital experience the combination of Johnston Press and i will also allow us to grow digital audiences and revenues through the creation of inews.co.uk.

“We are delighted with the positive reaction of shareholders to the deal and are excited by the opportunities this acquisition brings. We look forward to working with the team at i as we deliver the next phase of Johnston Press strategy.”

Steve Auckland, chief executive of ESI Media, added, “We are incredibly proud of the success of i since its launch in 2010. In just five years, i has changed the face of national newspapers, demonstrating that you can innovate in print.”

ESI Media owner Evgeny Lebedev wrote to all Independent and Independent On Sunday staff on Thursday to confirm the titles will become digital only from the end of March.

He said: "We are embracing an exclusively digital future with www.independent.co.uk and its associated sites.

"We faced a choice: manage the continued decline of print, or convert the digital foundation we've built into a sustainable, profitable future."