The 24-page colour tabloid will be distributed by hand from 6am, Monday to Friday, at key commuter points in the City and Canary Wharf districts. It will have an initial distribution of 60,000, rising to 100,000 within the first three months and will be certified by the Audit Bureau of Circulations.
City AM managing director Muncaster said he is hoping to cash in on the 30 to 60-minute period between City workers arriving at their destination and actually starting work. He added that the NOP research he had commissioned had shown that just 13% of business workers read a newspaper on the way to work.
"There are people in that community who don't read newspapers. What we will do is bring the younger, more dynamic non-bowler hat brigade back into reading newspapers."
Mark Gallagher, press director at Manning Gottlieb OMD, is not as convinced that the paper will get a following, arguing that City workers were more likely to surf the internet before work than read a newspaper. He said: "It is going to be news and feature-led, which is going to warrant more time reading than just flicking through, so I don't necessarily believe that there is a market there."
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