By Fiona Ramsay, marketingmagazine.co.uk, 20 August 2009, 1:20pm

News International to close freesheet thelondonpaper

 

News International is proposing to close thelondonpaper, its free evening newspaper, with up to 60 redundancies.

News International to close freesheet thelondonpaper
 

Thelondonpaper recorded a pre-tax loss of £12.9m in the year to 29 June 2008 on turnover of £14.1m.

The company has begun a 30-day consultation with staff at NI Free Newspapers, the subsidiary that publishes thelondonpaper. The company plans to continue to publish the title for the next month.

The paper was launched in September 2006 and competes with Associated Newspaper's London Lite.

News International has been streamlining its operations over the past 18 months, selling off News Magazines, PropertyFinder and CentreCore, to focus on its core titles.

News International also publishes The Times, The Sun and News of the World.

More details to follow.

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Virginie Hochard - 20 August 2009

Too many free newspapers compete on the same market. I am not surprised some find it difficult to remain profitable at the time of an economic slowdown when advertisers are either fewer or cut down on their spending.

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