NEW FLEET ST. PAPER

Press, Volume CIII, Issue 30364, 13 February 1964, Page 8

NEW FLEET ST. PAPER

‘Daily Herald’ To Close

(N.Z.P.A .-Reuter—Copyright) LONDON. Feb. 12.

The Trade Union Congress .general council has agreedto dispose of ail rights in the pro-Labour newspaper “Daily Herald” for £75,000. The decision paves the way for creation of a new national newspaper in Fleet Street—the “Sun,” which the giant International Publishing Corporation says will succeed the “Daily Herald.” The Trade Union Congress and the corporation—a big newspaper empire, the papers of which include the masscirculation “Daily Mirror”— have hitherto shared control of the “Daily Herald.” The congress held 49 per cent of shares in the “Daily Herald.”

Mr Cecil King’s corporation, which has been producing toe “Daily Herald” under agreement with the congress, had asked toe union leaders to relinquish congress holding to permit toe launching of a new paper with no connexion with the congress or the Opposition Labour Party. The corporation has said the ‘Daily Herald” is losing more than £BOO,OOO a year. Mr Hugh Cudlipp, charman of the “Daily Herald” and editorial director of toe corporation, said last month file new national daily—the “Suh”—would be a popular paper and radical, free of political and industrial ties.