In a groundbreaking move, Alexander Lebedev, the Russian tycoon and former KGB agent will today begin distributing over 600,000 copies of the London Evening Standard free to commuters in the British capital city.
London already has a number of free newspapers, such as the Metro and London Lite which are distributed to commuters at rail and tube stations for their morning and evening commutes. But Lebedev's move marks the first time that an established British newspaper has adopted the 'free' model.
The Evening Standard currently sells around 250,000 copies each weekeday and, although the loss of sales income will be signficant, the Standard's owner hopes that by more than doubling the newspaper's circulation, the increased sales of advertising will more than offset the fall in revenue from direct sales.
In announcing the decision, Lebedev said: "An essential fabric of a free and democratic society is high quality journalism. It acts as a deterrent against corruption and is a way to highlight what is beneficial and worth celebrating. The London Evening Standard is the first leading quality newspaper to go free and I am sure others will follow."
Almost all newspapers in England are faced with declining circulation figures, and are certain to be watching the Evening Standard's move closely. The fortunes of the free Evening Standard are likely to also be followed closely in the United States whose tradition of city-based newspapers is also under threat as sales decline.
The Evening Standard is London's oldest continuously running newspaper, and was founded in 1827 by Charles Baldwin.