Newspaper Shares Tumble

Following the start of the price war among the broadsheets today, newspaper group shares have fallen sharply. By 15:00 this afternoon, shares in the Telegraph group dropped 202p to 338p, wiping millions of pounds off the value of the group.

Shares in other groups have also fallen; shares in the Daily Mail fell 178p to 1275p; the Mirror Group dropped 36p to 129p, and Pearson, publisher of the FT dropped 6p to 599p.