Afternoon summary
Time to wrap up…. here are today’s main stories:
City AM, London’s business-focused free newspaper, has put itself up for sale.
City AM says it has held discussions over a proposed investment in the business, but while those talks continue it is also open to a sale, it says.
City AM, which is distributed at railway and underground stations in the capital, was hit by the lockdown, wiith many commuters stayed at home.
But with many workers now back in London, City AM managing director Lawson Muncaster, says there are new opportunities….
“As London continues to bounce-back from the pandemic, the time has come to think about the next chapter of City A.M.’s story.
As a local paper at the heart of the financial universe, the brand is perfectly positioned to expand into new areas and develop new revenue streams that take advantage of the new media landscape.”
NEW: The owners of City AM have put the London freesheet up for sale.
— James Warrington (@j_a_warrington) July 3, 2023
The financial title was hit hard by the pandemic and shift to home working and no longer prints on a Friday.
Bosses were in talks over potential investment but have now hired FRP Advisory to explore a sale.
