Future's not Orange: book prize loses its sponsor

The Orange Prize for Fiction is looking for a new name and a new sponsor after the communication company announced it was stopping its support for the literary award.

This year's prize, presented at the end of May, will be the last time the award for the best novel written in English by a woman bears the company's name.

A statement from the company said it had "taken the decision to position film as central to its partnership activity in 2013".

Novelist Kate Mosse, who co-founded the prize, said: "Our partnership has delivered everything – and more – than we hoped for. A celebration of international writing by women, one of the most significant arts awards in the UK and also a major force in education, literacy and research.

"This is the end of an era but no arts project should stand still and we are now looking forward to developing the prize with a new partner."

This year's winner will be presented with a cheque for £30,000 and a limited-edition bronze statue known as the Bessie at an award ceremony at London's Royal Festival Hall on 30 May.

Former Orange Prize winner Ann Patchett is on the shortlist for the prize that has been sponsored by Orange for 17 years. Previous winners of the prize include Zadie Smith and Linda Grant and Lionel Shriver.