A new newspaper offering up-to-the-hour news to a highly selective late afternoon audience will debut in New York City next spring, publisher Michael Goldstein announced yesterday.
The 12-20 page tabloid paper, to be called "The Wall Street Final," will have closing stock market prices, business, sports and general news, he said, and will be available on about 100 newstands in Manhattan only an hour after the 4 p.m. stock market closing.
Goldstein founded the Soho Weekly News in New York which he sold earlier this year to Associated Newspapers of London.
The paper will employ new technology allowing it to utilize ultra high-speed wires from United Press International, Goldstein said. It will be edited, composed and on the press in 30 minutes, he added.
An estimated 45,000 copies of the paper will be printed daily in two editions and sold for 25 cents. The paper will do little or no original reporting, instead planning to rely almost entirely on wire stories -- emphasizing the lateness of the story.
A spokesman for the new venture, Howard Greene, said the paper may even include the exact time a story was sent over the wire. The dateline on a story would read, for example: "WASHINGTON (UPI) (4:00 p.m.) . . ."
"A tremendous amount of news, especially business news, occurs between 1:30 p.m. (the start of the final run for the afternoon New York Post) and 4 p.m. that can't be reported by the New York News community," Goldstein said. "For example, there are now no closing prices of stocks available . . . before 9 p.m."