Rupert Murdoch's News International to Fold 'thelondonpaper'

By: Rupert Murdoch's media group News International said Thursday it plans to close its daily freesheet, thelondonpaper, because it was performing below expectations in a competitive free evening newspaper sector.

New International, which also publishes The Times and The Sun newspapers, launched thelondonpaper in September 2006 in direct competition to London Lite, another free evening paper owned by rival media group Associated Newspapers.

It has a monthly circulation of around 500,000 and runs news stories and entertainment features aimed at people living in London.

News International said thelondonpaper had lost 12.9 million pounds ($21 million) in the year to June 2008, on sales of 14.1 million pounds. The company said it has begun a 30 day consultation over the proposed closure, which will affect around 60 employees.


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