Award, set up as literary antidote to the Booker, will halt its £40,000 prize as hunt for new sponsorship goes on
The Folio prize, set up to challenge a “dumbed down” Man Booker in 2011, is to be suspended for a year while its directors continue to search for a new sponsor.
It was announced in spring that publisher the Folio Society would not be renewing its backing after two years, during which the £40,000 award was won by the short story writer George Saunders and novelist Akhil Sharma.
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