Compact Bucharest shuts down

Today, Swiss media company Ringier has published its last issue of free daily Compact in the Romanian capital Bucharest.

The paper was launched in May 2006 and had a circulation of around 160,000. Because of the closure 22 people will lose their job. (See also comment on this morning’s blog entry.) Ringier will assist the people involved in finding new jobs.

The newspaper was losing money, and the company announced it decided to close it because it did not expect to make money in the near future, especially under the present economic conditions.

Compact, however, is not the only Romanian newspaper in trouble as the whole press sector is seeing advertising revenues decline. (jurnalismonline)

(In a comment on the story in Jurnalismonline it was suggested that also one of the Expres editions in Hunedoara is also about to close down.)

One Response to “Compact Bucharest shuts down”

  1. Newspaper Innovation » Blog Archive » Expres Hunedoara closed Says:

    [...] In Bucharest, free daily Compact (owned by Swiss publisher Ringier) was closed down last week (see previous post). [...]