At the eleventh hour and fifty-ninth minute a white knight galloped unexpectedly to the rescue of ailing Sunday Business, saving it from certain closure [WAMN: 13-Nov-01].
The business-dedicated Sunday title, owned by the reclusive Barclay twins, struck a deal with the Press Association under the terms of which they will continue to own and fund the lossmaking paper while PA provides editorial backup resources. PA is already a provider of content to Sunday Business.
There will be a short interregnum, with Sunday Business entering limbo after its December 16 issue and relaunching as a “streamlined” title on January 6. It will emerge a good deal leaner, shorn of its Business and Pleasure magazine while the Sunday Investor section will be integrated within the main 36-page paper. At least twelve editorial staff will be laid-off and the position of of others reviewed.
During the break, the survivors will move across central London to PA’s News Centre where they will have access to their host’s page production facilities and make increased use of news copy.
Says SB publisher Andrew Neil: “After all the uncertainty and despite the unfortunate need for redundancies, it is a relief to know that the paper has been saved and its future is secure.”
News source: MediaGuardian.co.uk