London Evening Standard to close daily newspaper and launch new weekly

Chair Paul Kanareck says newspaper’s losses in the past six years are not sustainable


London’s Evening Standard has announced plans to shut its daily newspaper and replace it with a weekly outlet, bringing an end to almost 200 years of publication in the capital.

The newspaper said it has been hit hard by the introduction of wifi on the London Underground, a shortage of commuters owing to the growth of working from home and changing consumer habits.

The Standard lost £84.5m in the past six years, according to its accounts, and is reliant on funding from its part-owner Evgeny Lebedev. Its other shareholders include a bank with close links to the Saudi government.

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