Smiths reassures over paper’s closure

Smiths News has a 55 per cent market share of the UK newspaper and wholesaling magazine market and acts as a distributor for major newspaper groups including News International that yesterday took the shock decision to shut the Sunday newspaper.

Smiths said customers switching to other newspaper titles will soften the blow while its “flexible cost base” will result in minimal financial impact.

News International decided to close the publication after a series of increasingly damaging allegations over phone hacking left its reputation in tatters.

James Murdoch, the son of media tycoon Rupert Murdoch and the company’s chairman, said the 168-year history of Britain’s best-selling newspaper would come to an end when the final edition was published this Sunday.