Daily Sport owner in administration

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The Independent Online

The owner of the Daily Sport and Sunday Sport newspapers said tonight that it is to enter administration after failing to pay off its debts.

Sport Media Group, which in 2009 was saved from going out of business by former owner David Sullivan, said it had ceased trading with immediate effect.

The announcement came after the group warned it had experienced "an insufficient recovery" in trading since the adverse weather in December last year.

Daily Sport, which specialises in celebrity news and soft porn stories and images, was launched in 1991 by Mr Sullivan, following on from Sunday Sport, which was first published in 1986.