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| Closure looms for London paper | Closure looms for London paper |
| (20 minutes later) | |
| News International has proposed closing its loss-making free evening newspaper The London Paper. | |
| The paper, which competes with Associated Newspapers' London Lite, made a pre-tax loss of £12.9m ($21.2m) in the year to 29 June, 2008. | |
| It will now consult its 60 staff over the possible closure. | It will now consult its 60 staff over the possible closure. |
| Recently, Rupert Murdoch, the chairman of News International's parent company News Corporation, said it would begin charging for online news content. | |
| The London Paper was established in 2006 and had a circulation of 500,348 last month. | The London Paper was established in 2006 and had a circulation of 500,348 last month. |
| However, News Corporation now wants to concentrate on its main publications: The Sun, The Times, News of the World and the Sunday Times. | |
| "The strategy at News International over the past 18 months has been to streamline our operations and focus investment on our core titles," said James Murdoch, the chairman and chief executive Europe and Asia for News Corporation. | "The strategy at News International over the past 18 months has been to streamline our operations and focus investment on our core titles," said James Murdoch, the chairman and chief executive Europe and Asia for News Corporation. |
| "The team at The London Paper has made great strides in a short space of time with innovative design and a fresh approach but the performance of the business in a difficult free evening newspaper sector has fallen short of expectations. | "The team at The London Paper has made great strides in a short space of time with innovative design and a fresh approach but the performance of the business in a difficult free evening newspaper sector has fallen short of expectations. |
| "We have taken a tough decision that reflects our priorities as a business." | "We have taken a tough decision that reflects our priorities as a business." |