Evgeny Lebedev, the Russian owner of the Independent and the Independent on Sunday, is considering bringing the titles online only and putting an end to the print versions.
The news follows the announcement of the sale of the i, the Independent's spin-off newspaper, to Scottish publisher Johnston Press for £24m.
Independent editor Amol Rajan sent an email to staff earlier today, according to the Guardian, in which he said there would by a "lot of questions and uncertainty".
Lebedev, along with his father Alexander, bought the newspapers for £1 in 2010.
Speculation among journalists on Twitter pointed to a closure of the Indie and the Independent on Sunday.
Closure of @Independent as print title is heart-rending, terrible. Such an important paper in its day— Robert Peston (@Peston) February 11, 2016
#independent: Johnston close to putting deal to board. Looks like Indie'll close, & be online only Johnston will take some indie journos.— Beth Rigby (@BethRigby) February 11, 2016