London Evening Standard begins free distribution

Posted by Lisette García on October 2, 2009 at 8:50 AM

More than 180 years as a paid-for newspaper will end as the London Evening Standard positions itself as a free newspaper, the paper announced today.

Russian owner Alexander Lebedev, who purchased 75.1 percent of the Evening Standard in January, called the London Evening Standard the first leading quality newspaper to go free and was sure others would follow, according to redOrbit.com.

The paper makes £15 million in annual revenues from paid circulation, which is splits with vendors, the Guardian reported Friday. Meanwhile, the Telegraph observed that the Evening Standard's move to free could also drive London Lite, an existing free newspaper, out of business.

The newspaper plans to increase circulation from 250,000 to 600,000, which puts the newspaper's advertising structure in a new category, reported the Wall Street Journal. The Wall Street Journal is owned by News Corp., which also owned a free sheet called thelondonpaper until it recently folded.

The newspaper plans to go free starting Oct. 12.