Date

Fri - 17.11.2017


financial problems

Following the bankruptcy of its publisher Mediapubli, Spanish daily Público has announced that it will put out its final print edition this Sunday. Although the paper's website público.es will continue to operate, Cadena SER estimates that 130 of Público's 160 staff will lose their jobs.

Mediapubli declared bankruptcy at the beginning of January, and was given around a month to come up with enough funds to make Público economically viable. But although majority shareholder Jaume Roures sought investors in Mexico, Venezuela and Ecuador, the company was unable to come up with the necessary sum of around 9 million euros.

The announcement in Público said that the paper's financial difficulties were due to a worsening advertising crisis, profound changes in the newspaper industry and problems with finding new investors.

Author

Hannah Vinter

Date

2012-02-24 17:25

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