THG Group has agreed to buy London free paper City A.M., meaning the title will live on after going into administration yesterday. Good news…

City A.M. co-founder Lawson Muncaster said the deal was a “perfect fit”:

“We both believe firmly in the power of business to make peoples’ lives better and we cannot wait to get started with our new partners… as a ‘pro-business, pro-libertarian’ business, were committed to the editorial independence of the paper and would not be closing the print arm of the company.”

The existing 40 staff at City A.M. will join THG. A.M. co-founder and CEO Jens Torpe will retire with the conclusion of the deal. Guido’s glad to see the title live on…