P.M. BRIEFING : British Weekly Newspaper Folds
The Sunday Correspondent, a weekly newspaper with national circulation, is folding after failing to find the investment needed to stay afloat, the paper’s management announced today.
The Sunday Correspondent, which includes the owner of the Chicago Tribune among major shareholders, was launched on to the crowded Sunday newspaper scene on Sept. 17, 1989, at a cost of $25.5 million. But sales of the paper fell below the 350,000 figure needed to break even, and last August shareholders pumped in another $19 million to keep it going.
The paper also switched editors in what it called “the interests of the continued shareholder support,” and on Sept. 30 became a tabloid. The demise of the Sunday Correspondent leaves Britain with 10 national weekly Sunday newspapers.
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