LONDON: Russian tycoon Alexander Lebedev, who owns three British newspapers, will launch the country's first quality daily in 25 years this week in a risky bid to grab more of the ailing British press market. The concise new paper, called “i”, will be available from Tuesday for just 20 pence (31 US cents, 23 euro cents) – a fifth of the price of British broadsheets such as The Times. It is “specifically targeted at readers and lapsed readers of quality newspapers,” according to Lebedev's main national daily, The Independent, which will share editorial staff with the new publication. Britain has 11 major national dailies, whose circulation has shrunk an average 5.75 percent in the last year to 10.3 million copies a day, said the industry's performance monitor, the Audit Bureau of Circulations. The industry's more expensive “quality” newspapers, priced at around one pound ($1.57, 1.13 euros), have suffered more than tabloid titles priced at between 20 and 50 pence. The Daily Telegraph, The Times and The Guardian have each suffered a drop in circulation of over 10 percent over the last year. – Agence France
