Pink Paper has announced it is suspending printing due to the economic downturn.

A statement issued this morning said the newspaper will suspend its fortnightly print and distribution schedule with effect from the end of June.

It is hoped that printing can be resumed when the economy improves.

Kim Watson, Millivres Prowler Group media director, said: “The decision to suspend fortnightly print and distribution of Pink Paper has been one of the toughest we have had to make in a long, time but in order to ensure that we can continue providing a service to the LGBT community in future we have taken the decision now, rather than when the situation has worsened to a point that we would need to cease Pink Paper all together.

“We are looking forward to increasing delivery of our weekly newsletter and ensuring that our website continues to grow in its visitors and interaction. We are also glad to announce that all existing staff will remain with the company to work on Pink Paper online and our other titles.”

Pink Paper will continue to produce content for its website, pinkpaper.com.

It was launched as a weekly LGBT newspaper in 1987 and acquired by MPG in 2005.

The Financial Times reports that PinkPaper.com receives 33,000 unique visitors each month. This website, PinkNews.co.uk receives around this level of visitors each day.