City A.M.’s owners have announced the paper is for sale, and are publicly looking for suitors to keep the doors open for the freesheet’s “new chapter“. The paper is currently privately owned, with 50% of the shares owned by a Dutch consortium and 25% each owned by CEO Jens Torpe and Managing Director Lawson Muncaster. It was hit hard by the pandemic, and stopped publishing on Fridays earlier this year to cut costs…

Boss Lawson Muncaster revealed they are now exploring a sale, having already launched discussions about potential investment:

“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.”

Print circulation is hovering around a daily 67,000, which is down one fifth on their pre-pandemic numbers. City slickers working from home hasn’t helped their numbers. Of course, they’re not the only newspaper for sale at the moment…