Thelondonpaper's rivals opt for contrasting coverage

 

LONDON - Associated Newspapers freesheets Metro and London Lite have refrained from covering the demise of rival thelondonpaper, unlike yesterday's Evening Standard.

None of yesterday's Lite, today's Metro and Daily Mail mentioned News International's decision to close thelondonpaper and it is understood today's Lite is unlikely to.

The Standard slashed its cover price to 10p and splashed the news on its front page in a bid to inform as many readers as possible. The Standard is 75% owned by Russian billionaire Alexander Lebedev with the rest owned by Associated.

Thelondonpaper's closure benefits Associated by removing a competitor for the afternoon freesheet market, and the industry will be speculating as to whether the company will keep or close London Lite, which was launched in answer to News International's grab for the London evening commuter audience three years ago.

Associated is making no comment on the closure beyond saying: "We are watching developments with interest."

Both the Lite and thelondonpaper are loss-making, and although Associated parent DMGT does not break out the figures for the Lite in its financial reports it is believed to be millions in the red.

The most recent figures showed the Lite's first half display revenues were up 11% year on year.

Thelondonpaper recorded a pre-tax loss of £12.96m in the year to June 29 2008 on revenues of £14.1m.

News International has started a 30-day consultation on the proposed closure with approximately 60 staff of NI Free Newspapers, the subsidiary that publishes thelondonpaper.

It said it plans to continue to publish the title during the consultation period, making it likely the paper's final issue will be on or soon after Friday September 18.

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