£45 million write-off for thelondonpaper

Rupert Murdoch’s News International, publisher of The Times, The Sunday Times, The Sun and The News of the World in the UK, wrote off a £45 million (€53 million) loan to thelondonpaper, following its closure in September 2009 (The Guardian).

The paper was launched in September 2006 to compete with Associated Newspapers’ free dailies Metro and London Lite. The last title was closed in November 2009.

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