Richard Branson’s ever-expanding Virgin Group is considering a foray into the newspaper business with a free daily publication in New York City, according to an individual familiar with the company’s plans.
The newspaper, which would focus on show business and entertainment, is still in the preliminary stages of planning at Virgin, the source said. It would be sponsored by the company’s entertainment division, which includes the Virgin Megastores.
Free newspapers have flourished, though not always profited, in major metropolitan areas over the past decade. New York is already home to two such papers, am New York and Metro, though both feature general interest news.
I think we’ll see more of this. The daily paper will be free (ad supported), then some will go weekly only.