The London Evening Standard is set to have the capital’s daily newspaper market to itself once more with rival freesheet London Lite facing likely closure.
Publisher Associated Newspapers today announced it is consulting on the future of the evening title and admitted it may close.
A company statement issued at 12.30pm read: “Associated Newspapers, the national media division of DMGT, announces that it has entered a period of consultation over the future of London Lite, its free London evening title, which may result in closure.”
Speculation about the title has been rife ever since new Standard owner Alexander Lebedev decided to turn the loss-making Standard into a free paper, months after purchasing it from Associated for £1.
It is understood that the closure of London Lite would put around 35 staff jobs at risk.
Interested Observer (27/10/2009 17:19:50)
This was obviously the game plan all along. A 24% stake in the Standard is clearly more attractive to DMGT than incurring a £10m loss trying to compete with a stronger brand they sold for £1.