Evgeny Lebedev’s London Live is to close next week after ten years on-air.
The local TV station was set up as part of a network of local TV stations established by former Conservative culture minister Jeremy Hunt.
In a statement, London Live said it would be closing at 12am on 20 January.
“We want to thank you for following and supporting us over the last 10 years. We have loved helping to share the stories that matter in London, making sure the voices that count are heard.
“In our biased opinion, London is the best city in the world, made up of brilliant people. Thank you for being a part of our journey.
Lebedev, who also owns The I Paper and The Standard is said to have lost £20 million over the 10 years of London Live’s operations.
Last week, Sky News reported that Local TV Ltd, owned by former Trinity Mirror chief executive David Montgomery, was close to announcing a deal to buy the London licence. Such a move will need the approval of regulator Ofcom, which in December found rival That’s TV to be in breach of its licensing conditions after failing to provide “significant local newsgathering” in 14 of its licensed areas.
Local TV Ltd currently owns eight channels in Birmingham, Bristol, Cardiff, Leeds, Liverpool, North Wales, Teesside and Tyne and Wear.
