News International published results for its free London afternoon newspaper thelondonpaper last week.
Compared to the first 10 months of operation (September 2006 - June 2007) the paper lost less money in the next 12 months....
It lost ‘only’ £12.9m against £16.8m in the first 10 months.
How long can James Murdoch sustain these losses?
Well one thing is for absloutely sure, he isnt publishing out of love and a desire to entertain the commuting London public! He is prepared to sustain these losses for now in the hope and expectation that NI are successful in their bid for the lucrative and strategically critical morning distribution slot (currently held by Metro).
James wants and needs the slot to defend The Sun and The Times in London. Its a classic defence strategy. If they lose the bid (or its just too expensive) then I dont think the paper has a chance. Its toast.