News Corp's News International, owner of the London Paper, has announced the cancellation of its new Headliners event in light of the free weekday paper's imminent closure.

The new event, set for Sept. 16 and 17, was to feature over 50 acts such as Doves, Athlete, the Lemonheads, Daniel Merriweather, the Boxer Rebellion, Gabriella Cilmi, Biffy Clyro and Sophie Ellis-Bextor across 13 central London venues including the ICA, Madame Jojo's and the 100 Club, and retailers HMV and Fopp.

Run in conjunction with Mama Festivals, a division of U.K. venue operator Mama Group, the two-day festival at first signalled that it would be unaffected by the closure of the London Paper (, Aug. 20).

However, the London Paper has now stated that both parties felt it "inappropriate" to stage such an event in the lead-up to the paper's closure. "It is with great regret that we have reached this decision," said a statement. "However investing in an event of this scale when the paper is due to close the following day would be an irresponsible move."

Full refunds have been offered for all tickets purchased for the event.

The London Paper launched three years ago in a free sheet war with the London Lite. The London Paper announced last month that it would close on Sept. 18 as part of a cost-cutting exercise.