Another £5.5m for Time Out

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The Independent Online

The private-equity owner of Time Out has had to invest an extra £5.5m in the London listings magazine "for working capital" in the last six months after the title went free a year ago.

Time Out has been suffering from "subdued print advertising demand", but circulation has hit a record of 305,000 and website visitors are up 35 per cent.

Time Out lost £3.1m before exceptionals items last year.