Free London daily thelondonpaper is to be closed next month, its publisher has announced.
News International has begun a 30-day consultation with 60 affected staff, the Press Gazette said.
The development comes after News International said thelondonpaper suffered pre-tax losses of £12.9 million in the 12 months to June 2008, the latest figures available.
News Corp, the owner of News International, said the free paper's demise was part of a 'streamlining' strategy.
'The team at thelondonpaper has made great strides in a short space of time with innovative design and a fresh approach but the performance of the business in a difficult free evening newspaper sector has fallen short of expectations,' said News Corp Europe and Asia chief James Murdoch.
'We have taken a tough decision that reflects our priorities as a business.'
The paper was launched almost three years ago in direct competition with the Evening Standard and rebranded sister publication London Lite.
It holds the significance of being the first paper to be launched by News International; its other titles being bought years after first being published.
News International has begun a 30-day consultation with 60 affected staff, the Press Gazette said.
The development comes after News International said thelondonpaper suffered pre-tax losses of £12.9 million in the 12 months to June 2008, the latest figures available.
News Corp, the owner of News International, said the free paper's demise was part of a 'streamlining' strategy.
'The team at thelondonpaper has made great strides in a short space of time with innovative design and a fresh approach but the performance of the business in a difficult free evening newspaper sector has fallen short of expectations,' said News Corp Europe and Asia chief James Murdoch.
'We have taken a tough decision that reflects our priorities as a business.'
The paper was launched almost three years ago in direct competition with the Evening Standard and rebranded sister publication London Lite.
It holds the significance of being the first paper to be launched by News International; its other titles being bought years after first being published.
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