New Day, the newspaper launched nine weeks ago to cater for people who don’t buy newspapers anymore, has shocked the industry by announcing it will close on Friday.
Publisher Trinity Mirror said it was disappointed to be on the receiving end of the world’s largest “I told you so”.
Friday’s edition will be the last, and those behind New Day said the failure had left them stunned.
Editor Simon Williams told us, “As people have moved in their billions to the Internet to get up to the minute news, we felt there was a gap in the market to provide paper-based news that is at least a day out of date, and to target it specifically at people who don’t buy newspapers anymore.
“But for some reason people aren’t buying the paper.
“Honestly, we have no idea what went wrong. We did our research, sort of, and we were sure this was a winner.
“And no, that research wasn’t conducted in a pub.”
Trinity Mirror said that it wasn’t all bad news, as the closure of New Day would release funds for its new venture in selling sand in the Middle East.