Schibsted cuts costs in Spain
Spain, only five years ago, a country with four national free newspapers, a combined free circulation of almost five million and a market share of free newspapers of more than 50%, is now seeing how the last remaining free daily is coping with the recession.
Until last year 20 Minutos had 15 editions, in July of 2012 seven editions were closed. In 2013 only five (Madrid, Barcelona, Zaragoza, Valencia and Andalucia) remain.
In the beginning of this month Schibsted already announced cost reductions because of losses in Spain and France.
20 Minutos was the only remaining national free daily in Spain after the closures of Metro (2009), ADN (2011) and Qué! (2012). Also a dozen local free papers closed down. Total circulation of free newspapers in Spain is now down to less than 800,000.