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New British Newspaper Closes After 10 Weeks

FILE - A customer holds a copy of the New Day at a newsstand in central London, Britain.

A British newspaper that pledged to prove that print news can survive in the online age has announced it is shutting down, just weeks after it began publishing.

Britain's The New Day, launched February 29 as the nation's first national daily newspaper in 30 years, announced Thursday that its last issue will be May 6. The Trinity Mirror Group, which owns the paper, said its performance had been "disappointing" and that circulation in its ten weeks on the newsstands had failed to meet expectations.

Expectations for the paper included sales of 200,000 copies per day, but soon after it launched, circulation fell as low as 30,000 copies per day.

The Trinity Mirror Group saw its stock market shares slump to a three-year low on Wednesday. The closure was announced on Thursday.