The London Paper's Debts Mount

Carriage clogging freesheet The London Paper totalled losses of £13m in the 12 months to June 2008, according to a report in the Guardian. Despite a lower sum than the £16m losses in its first 10 months of existence, the paper, a part or Rupert Murdoch's News International, has been forced to double its overdraft facility to incorporate mounting losses. Despite struggling in the fecund freesheet market, newspaper bosses expect to see a bounce in advertising spend next year; still, Murdoch's clearly not a fan of doling out content for free — he announced yesterday that he plans to charge people to access content on his suite of newspaper websites.