• And so Peoplenews.com folds, and a version of the truth finally dribbles out after months of faux spin. Diary can't help feeling sorry for founder Jane Procter who was still phoning around frantically last Friday to find someone to buy her gossip website. In view of CEO Simon Walker's desperation to unload the whole shebang and its apparent debt for a puny £1, it's strange that in interviews a few days later he claimed Peoplenews had been close to profitability. And impressive that it had burned through £5m in such a short time. But most extraordinary of all is that it lasted so long. To this end, Diary would like to present Peoplenews with its Award for Endurance (for becoming a one-year-old mishap when it should have been a fly-by-night dot.com disaster). An honour indeed.

8.30am: Liam Hamilton, the former managing director of LWT, has quit his job as chief executive of Worldpop. By Amy Vickers.

11.45am: Scoot.com has offloaded its 50% stake in Scoot Europe to French media group Vivendi Universal, reports Amy Vickers.

8.30am: Emap is ploughing ahead with its internet strategy despite deciding in March to rein in its online presence, writes Amy Vickers.

2pm: Journalists who have for years argued Lord Archer was a habitual liar, today lashed out at the disgraced peer. By Amy Vickers.