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October 6, 2005updated 22 Nov 2022 5:03pm

It’s the end of the Line as title runs out of cash

By Press Gazette

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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