The firm will begin a 30-day consultation period to decide the future of the evening paper.
Matt Bourn, MD of Braben, said: 'This is a real loss for PR professionals targeting the London commuter as it presented many opportunities to engage with this audience.
'The pressure will now grow on PROs to target a smaller number of London media. It is an opportunity for the Evening Standard to remind everyone how important a paper it once was,' he added.
Thelondonpaper is distributed to 500,348 people in London (Source: ABC, July 2009). It recorded a pre-tax loss of £12.9m for the year to 29 June 2008.
News International Free Newspapers employs approximately 60 staff on thelondonpaper and will continue publishing throughout the consultation period.