thelondonpaper Faces Axe

The London freesheet war that sparked into life in 2006 has claimed its first real casualty: thelondonpaper, owned by News International, is to be closed. 60 full-time and contract staff could lose their jobs, but in the current economic climate — and with the title losing £9.1 million so far this year — Murdoch has sussed that it is unlikely to ever turn a profit, and has decided to pull the plug. Beyond the business aspect, though, there could be a more personal angle: this week's Private Eye reports that Rebekah Wade, former Sun editor and now chief executive at News International, has long loathed the freesheet for pinching readers and potential sales from her beloved Currant Bun, and refused to sign up to the board of sister company and thelondonpaper publisher NI Free Newspapers. The paper will continue to litter the Tube for the next 30 days as staff undergo a consultation, but shortly after that it will be wound up..