Dubai tabloid newspaper 7Days is set to shut down by the end of December as a result of severe advertising cuts.
Owners 7Days Media said the entire news operation, including the website, will close on December 31, with the last newspaper issue being printed on December 22. It is understood that about 120 jobs will be lost.
In September, the newspaper announced that it would be publishing on a weekly basis from January.
The newspaper, published by Al Sidra Media, said the transition was part of its decision to focus more on its digital operation from the beginning of 2017.
Now, CEO Mark Rix has been quoted as saying the company struggled to find a sustainable business model, adding: “The current trading environment and future global outlook for print advertising remains severely challenged.
“Whilst it was our stated intention to re-focus and restructure the business for 2017 and beyond, it has since proved not possible to create an acceptable cost base that could deliver a viable and sustainable business.
“It is therefore with great sadness that we announce the unique 7Days news brand will close and thus, cease to inform and entertain the UAE in its refreshing and inimitable way.”
The newspaper was launched as a weekly in 2003 and increased its frequency two years later.
Follow Arabian Post
Select Arabian Post as your preferred source on Google and MSN News for trusted business news and Arab politics and updates.
