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23 November 2016
By Shane McGinley
Dubai-based tabloid newspaper 7DAYS will shut down next month, resulting in the loss of 120 jobs across its editorial, sales and distribution operations, its publisher said on Wednesday.
The free newspaper, which launched as a weekly in 2003 and moved to five days a week two years later, is owned by the London-based Daily Mail and General Trust (DMGT), publisher of the popular Metro and Daily Mail media brands.
“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,” Mark Rix, CEO of 7DAYS Media, was quoted as saying in a statement.
“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. I have only praise and admiration for the dedicated and talented team that have created such a popular media portfolio over the past 13 years and I wish each of them every future success and happiness.”
Managing Editor Claire Sharrock confirmed that the closure of 7DAYS Media’s print and online portfolio will result in the loss of over a hundred jobs.
“It is with a very heavy heart that I can confirm this. That is about 120 staff, including our distribution team,” she told Zawya in an email statement. She also confirmed that DMGT has no plans to launch another media venture for the region.
The final issue of 7DAYS will be published on Thursday, December 22.
© Zawya 2016
By Shane McGinley
Dubai-based tabloid newspaper 7DAYS will shut down next month, resulting in the loss of 120 jobs across its editorial, sales and distribution operations, its publisher said on Wednesday.
The free newspaper, which launched as a weekly in 2003 and moved to five days a week two years later, is owned by the London-based Daily Mail and General Trust (DMGT), publisher of the popular Metro and Daily Mail media brands.
“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,” Mark Rix, CEO of 7DAYS Media, was quoted as saying in a statement.
“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. I have only praise and admiration for the dedicated and talented team that have created such a popular media portfolio over the past 13 years and I wish each of them every future success and happiness.”
Managing Editor Claire Sharrock confirmed that the closure of 7DAYS Media’s print and online portfolio will result in the loss of over a hundred jobs.
“It is with a very heavy heart that I can confirm this. That is about 120 staff, including our distribution team,” she told Zawya in an email statement. She also confirmed that DMGT has no plans to launch another media venture for the region.
The final issue of 7DAYS will be published on Thursday, December 22.
© Zawya 2016
