Evening Standard lost £28.3m before becoming free

According to the Guardian, London paper Evening Standard lost £28.3m (€33m) in the last ten months before becoming a free daily in October 2009.

This figure includes  £9.9m (€12m) of exceptional restructuring costs including redundancies and moving from a paid-for title to a free daily.

Lebedev acquired the Evening Standard for £6.7m from DMGT (Associated Newspapers), at the time, however, it was suggested the sum was only 1 pound.

Comments are closed.