London Evening Standard sells its editorial independence to Uber, Google and others - for 3 million

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6. Evening Standard to record 10m loss

https://www.bbc.co.uk/news/entertainment-arts-44537728

The Evening Standard will post a loss of £10m for the year ending in September 2017, a reversal in fortunes for London's paper that poses a big headache for its owner, Evgeny Lebedev.

The Standard's loss - £9.98m - comes after a recorded profit of £2.2m in the previous year, representing a £12m swing into the red.

The causes of the sharp financial deterioration reflect both long-term, structural changes in the newspaper industry - above all the downward pressure on print display advertising - and specific issues arising in that financial year.

Those exceptional circumstances include a London food festival which was, commercially at least, and allowing for sub-optimal weather, an expensive failure. The weakness of sterling pushed paper costs up for all newspapers. And the slowdown in London's property market always augurs ill for the Standard, whose Homes & Property supplement is a key driver of revenue.