UAE Newspaper 7DAYS to Close Next Month
Dubai-based free newspaper 7DAYS is to cease publishing next month.
7DAYS Media today announced the entire news brand will close, including the website, with the last issue being printed on December 22.
“The current trading environment and future global outlook for print advertising remains severely challenged,” said CEO Mark Rix.
“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 launched as a weekly in April 2003, increasing its frequency to five days a week a year later. The UK-based Daily Mail & General Trust Plc bought a 60% stake in the paper in 2006 and increased its ownership to 100% in March 2011.
It is understood that all staff will lose their jobs with the closure.
Mr Rix added: “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.”