NEWS: Rubython seeks new funds amid talk of closure

Tom Rubython, the editor in chief of Sunday Business, the Sunday newspaper that launched last weekend, has admitted he is looking for a fresh financial injection, but denied that a rescue package had been offered by the millionaire, Sir James Goldsmith.

Tom Rubython, the editor in chief of Sunday Business, the Sunday

newspaper that launched last weekend, has admitted he is looking for a

fresh financial injection, but denied that a rescue package had been

offered by the millionaire, Sir James Goldsmith.



Rubython said this week that he required more money for the title.

However, he denied that the problem would affect the publication of the

paper this Sunday.



Rubython brushed off reports that Sunday Business had been offered a

financial deal by a consortium led by Goldsmith, and believed to include

John Redwood MP, both of whom visited the paper’s offices on Wednesday.

The rumoured financial proposal was thought to involve a switch in the

paper’s editorial stance to a more right-wing, anti-European stance.



Patrick Robertson, an advisor to Goldsmith, said: ‘The idea of buying a

paper is of no interest to Sir James.’



Mirror Group Newspapers is also understood to have made an approach to

Sunday Business with a view to buying the paper.



Advertising support for the title was still hanging in the balance as

Campaign went to press, but Rubython said there were hopes for an ad

campaign, including TV advertising, this weekend.



Knight Leach Delaney and the media independent, John Ayling and

Associates, have been on standby to implement the campaign.



The paper had a circulation of 145,608 in its first week, only slightly

below its 150,000 target. Rubython said he expected sales of the second

issue to be stronger. But, if finance is not forthcoming, insiders fear

the paper could face closure.



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