Another news publication has left the newspaper stands. This time is the main Portuguese business daily “Diario Economico” who ceased printing its newspaper and became another example of a media company moving away from paper to digital-only publication.
The paper has long been going through severe financial difficulties and its director, Gonçalo Faria de Carvalho, announced the “suspension of the paper edition.” The last printed edition is hitting the stands today with a big “thank you” on the front page. On the back page, the administration note says “The paper edition is now suspended, which we all hope to be temporary.” What remains in operation is the online edition and the ETV (Economico TV) cable channel.
The newspaper is owned by the Ongoing group who has already recognized the publication is going through a “difficult period.”
The newspaper was printed for 27 years (since 1989) and is employing about 150 people today. The company has had successive negative annual results and owes the tax authorities, social security and wages to some of its workers.