The Week: Media news - NI halts old printworks sale

News International is shelving plans to sell its former printworks in Wapping, according to a report in The Daily Telegraph.

The publisher of The Times and The Sun took the decision to suspend plans to sell the 14-acre site due to the sharp downturn in the central London property market. Developers had devised ambitious plans for a mixed-use development including up to two million sq ft of housing, retail and office space, for which the media group had expected to attract bids of up to £200 million. But the turmoil in the property market has led News International to abandon the sale and an official announcement is expected within weeks.