By Sarah Lagan
The
alternative weekly title The London Line, launched in March, has closed
after a summer hiatus when it suspended publication to try to attract
more investment.
It had hoped to raise cash via venture
capitalists, regional newspaper publishers or business “angels”, and
had recruited a new advertising team for a possible relaunch in
September.
All staff on The London Line have been made redundant and are looking for work elsewhere.
Editor
Joy Lo Dico said: “There had been ongoing negotiations about financing
over the summer, but we decided that we hadn’t progressed far enough
and that maybe it was time to call it a day.
“These ventures are always a gamble.
We
had had such a lovely response from Londoners, in e-mails sent in, and
by the last weeks of July had almost 100 per cent pick-up, so on many
levels we judged it a success and can hold our heads up. Unfortunately
the business side didn’t get up to speed within our timeframe. So we
are all disappointed.”London does need a paper like The London Line, so
where we have failed, I hope someone else can succeed.”
Publisher Damian Kahya added: “Because in many ways this was a success, we are keeping the whole idea on ice.”
The
London Line was aimed at young commuters in the city as an alternative
to what the paper described as London’s existing “right-wing” press
that focused too much on crime. The 24-page title was distributed from
honesty boxes outside tube stations, and had a notional cover price of
1p.
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