- City A.M.
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File:City am.gif Type Daily newspaper Format Freesheet Owner City A.M. Ltd Editor Allister Heath Founded 2005 Political alignment Classical liberalism/Conservative Language English Headquarters 7th Floor,
Centurion House,
24 Monument Street,
London EC3R 8AJCirculation 110,406 Official website cityam.com City A.M. is a free, business-focused newspaper distributed in and around London in the United Kingdom. It was launched by a group of entrepreneurs in September 2005 and remains independent of any other media company. Its certified distribution hit a new record of 113,348 copies a day in November 2010, according to official audited statistics compiled by the ABC. Its pagination averages around 32 tabloid full-colour pages a day.
The newspaper’s editor is Allister Heath, who took over in February 2008. He was previously Editor of The Business, a weekly magazine owned by the Barclay Brothers and subsequently relaunched as the Spectator Business, a monthly.
City A.M.’s deputy editor is David Hellier, formerly of the Independent and the Daily and Sunday Express. The paper employs an editorial team of 27 across its four daily sections – news, business features and investment, lifestyle and sport.
The news section is primarily made up of corporate, financial and economic stories, as well as political and regulatory stories relevant to its readership. The paper regularly runs interviews of business leaders. The news pages also contain a variety of corporate and economic comment. The business features section is primarily dominated by investment, trading and wealth management pieces but also includes a range of articles on other business topics. The lifestyle pages cover a vast range of subject matters, including travel, restaurant reviews, food, fashion, technology, books, arts, entertainment, motoring and property. The sport section reports and comments on all the major events and games, with a bias towards sports of interest to London-based professionals.
City A.M.’s launch editor was former Sunday Times and Sunday Express journalist David Parsley.
The newspaper is published in print Monday to Friday and is distributed at a growing number of points in London and the Home Counties. The company pursues a three-pronged distribution strategy, using a combination of uniformed hand-distributors and unmanned racks:
• the paper is being made available from around 6am at a growing number of commuter stations, with recent additions including Highbury, St John’s Wood and Chiswick.
• the paper is available from around 6am at many business and political centres in central London, including the Square Mile, Canary Wharf, Mayfair, Westminster and numerous others.
• the paper is also delivered to a large number of offices, such as those of PricewaterhouseCoopers or Bank of America Merrill Lynch.City A.M. became profitable for the first time in 2010, according to official audited figures released to the UK’s Companies House. The vast majority of its revenue come from display advertising from its daily print operation but it is also building an events and digital business at www.cityam.com. They are launching an app for the i-pad in the next few weeks which will be soon followed by one for Blackberry and Android phones. Revenues were up 37 per cent year on year in the first six months of 2010 to £3.8m, thanks to strong display advertising revenues from financial and consumer brands. Pre-tax profits were £423,000 in the first six months of this year, with operating profits reaching £546,000.
The paper’s philosophy is broadly supportive of the free-market economy, of capitalism, of private enterprise and of the City of London and those who work in it. It endorsed the Conservative Party at the 2010 UK general election but has been critical of several of the coalition’s policies since.
Its presentation style is different to that of other business newspapers. Its front page is dominated by a large capitalised banner headline more reminiscent of a traditional UK popular newspaper. The rest of the news stories, as well as the commentary and features, come in bite-sized chunks, in a modern compact-style format illustrated with images, bullet points and diagrams.
There are now three principal free newspapers in London: [Metro UK] (which also distributes nationally) and City A.M. in the morning and the London Evening Standard in the evening. City A.M.’s is aimed at private-sector workers, especially those in finance, professional and business services and corporations, and those who are interested in investing and personal finance.
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