Thelondonpaper faces close down

News International, publisher of London evening free daily newspaper Thelondonpaper is thinking about closing down the loss making paper.

In the 12 months to June 2008, NI Free Newspapers posted a £12.96m loss. This was £16.48m loss posted during the previous 12 months.

The company has entered into a ‘consultation’ period of 30 days to rethink their strategy towards the free paper. During that time the paper will be published according to MediaWeek.

The paper was launched in September 2006. It has a circulation of 500,000 and a daily readership of more than a million.

In the London evening market it competes with London Lite (Associated Newspapers) while also the paid Evening Standard has a rather high percentage of free copies.

In the morning Metro (Associated Newspapers) is published and is making a profit.

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