By Sheila Mckenzie-
London’s iconic Evening Standard has announced it will cease its daily print edition, marking the end of nearly 200 years of daily publication. The newspaper will transition to a weekly format later this year, in response to significant financial losses and changing consumer habits.
Paul Kanareck, the newspaper’s chair,(pictured) informed staff on Wednesday morning that the substantial losses—£84.5 million over the past six years—were unsustainable. He stated, “We plan to consult with our staff and external stakeholders to reshape the business, return to profitability, and secure the long-term future of the number one news brand in London.”
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The transition will include the launch of a new weekly newspaper and a potential reduction in the frequency of ES Magazine. The focus will shift towards increasing the website’s audience and providing more in-depth analysis of issues that matter to Londoners.
The new weekly edition aims to celebrate the best of London, covering entertainment, lifestyle, sports, culture, and news.
Paul has worked across digital, creative and direct-to-consumer industries for the past 20 years and has substantial experience in generating new and high growth revenues from large audiences, premium content and global brands, says GMG.
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As managing director of Wizarding World Digital (a joint venture between Warner Bros and J.K. Rowling), Paul built and led the digital arm of the global Harry Potter franchise, signing up 24m new members to the fan club in two years.
The London freesheet told staff on Wednesday it will scrap its daily print edition and become a weekly title instead.
The future of the glossy ES Magazine, which currently comes out once a week, has also been thrown into doubt with executives saying they will consult on reducing the frequency of its publication.
he daily edition is expected to lead to significant job losses. Journalists, design staff, and distributors who hand out the newspaper across London are likely to be affected. Billboards outside railway stations that currently advertise the day’s headlines will stand empty on most days. Negotiations over potential redundancies are expected to begin on Thursday.
Historical Significance
The Evening Standard has a storied history, having adapted its format, price, content, and distribution models over its 197-year existence. Originally a paid-for newspaper with multiple editions a day, it provided Londoners with the latest news throughout the afternoon. Its proximity to media and political power centers made it influential among opinion formers and political parties.
In 2004, the Evening Standard was the first outlet to report the later-debunked claim that Iraqi leader Saddam Hussein could target the UK with weapons of mass destruction within 45 minutes. The paper’s role in the “freesheet wars” from 2006 to 2009, where rival publishers spent £70 million competing with Rupert Murdoch’s London Paper and Associated Newspapers’ London Lite, further strained its finances.
The newspaper was sold to the Lebedev family for £1 in 2009 and converted into a freesheet, which initially revived its fortunes. Under the editorship of Geordie Greig, the Evening Standard experienced a financial boom, with advertisers valuing its wide reach among Londoners. However, the introduction of wifi on the London Underground, a reduction in commuter numbers due to remote working, and changing consumer habits have since taken a toll.
Looking Ahead
Closing the Evening Standard daily print edition means that, for the first time in centuries, Londoners will have no general-interest daily print newspaper. City AM, a finance-focused newspaper recently saved by billionaire Matthew Moulding, will continue to publish four days a week and has increased its distribution.
As the Evening Standard transitions to a weekly publication, it aims to adapt to the modern media landscape while maintaining its relevance and influence in London. The challenge will be to retain its loyal readership and attract new audiences in a rapidly evolving digital age.
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