City AM: 100,000 target by end of year

By Dominic Ponsford and Colin Crummy

City
AM, London’s newest daily paper since Metro, was picked up by 60,000
readers on Monday and even more on day two, according to a source at
the paper. It hopes to raise distribution to 100,000 by the end of the
year.

City AM is 24-pages, full colour and edited by former
Sunday Express business editor David Parsley. It has a fulltime
editorial team of 25 based in London Bridge, with the same again in
freelancers and contributors.

This week, a team of distributors
handed it out from 6am outside every tube and railway station in Canary
Wharf and the City of London. With a copy deadline of midnight, City
AM’s off-stone time is several hours later than its national newspaper
rivals.

The paper is jointly run by chief executive Jens Torpe
and managing director Lawson Muncaster, who are both formerly senior
executives at international free newspaper Metro.

Issue one of
City AM splashed on reports that American entrepreneur John Malone was
considering a £1 billion bid to Flextech. On day two, the front
revealed that German utility company EON is planning a £10 billion bid
for Scottish Power, and on day three the paper led on the news that
online poker company Party Gaming had cut it’s revenue forecast.

The
new freesheet includes seven pages of news, two pages of comment and
analysis, two pages of market figures and share prices, TV listings and
two pages of sport.

Vox pop
THE READERS SAY…
Duncan Camp, accountant City AM is better and more in depth on the business side so it’s more useful to me than Metro. I’ll read Metro on the way in to work as I can get it at my local station, and then I’ll pick up City AM when I get off at work.

John Cushing, recruitment manager It’s very good – I’ve been reading
it every day since it launched. The business focus is exactly what I
want. I try not to read any newspapers generally.

Peter Downes,
doctor I’ve just picked it up but it’s definitely better than the local
media I read. I like a mild amount of business news in my paper so I’ll
have to see if I enjoy this. It’d be good if they weren’t just
distributed in the city centre and you could pick one up on your way in
to work.

Ade Jiboye, pensions administrator I’ve been reading it
since Monday. I’ve only been interested in the shares section because
I’ve been talking to my sister about it and we think it’s a good way of
investing. Sometimes I read the Metro or the Evening Standard, but I
found a couple of articles in here quite interesting. I like to keep up
to date on news like the supermarket rivalry.

Tabitha Taylor,
marketing It’s a really good idea. I find Metro a bit too like The
Daily Mail – not surprising since they’re by the same people. City AM
isn’t too article heavy – it’s got snippets rather than massive depth.

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