Belgrade Paper Blic Closes Its Montenegrin Edition


News
16 Apr 15

Belgrade Paper Blic Closes Its Montenegrin Edition

The Montenegrin edition of the Serbian daily Blic published its last issue on Wednesday as dozens of employees lost their jobs due to financial problems.

Dusica Tomovic
BIRN

Podgorica

The management of the Belgrade-based Ringier Foundation Axel Springer company, the publisher of the daily Blic Montenegro, shut down the Podgorica edition of the newspaper after almost three years on the market due to financial problems.

Local media reported that the paper was shut down because it wasn’t profitable.

The editorial board was reportedly not informed until Wednesday, although the decision to close the daily was made on March 20.

In March, the Media Union warned that the financial situation in the Montenegrin media is even worse now than it was in previous years. A large number of outlets are in deep debt or face bankruptcy, and the burden of the crisis has been shifted to the employees, the union said.

Over past few months, media outlets and Montenegro’s two TV broadcasters have shed over 150 staffers, about 10 per cent of the total number of media workers, while one TV station went bankrupt.

“Not many media haven’t seen reduced earnings in 2014 or laid off employees in a suspicious and dubious manner,” the union’s head Marija Camovic said.

The union has urged the government to “urgently consider” measures to help the media by cutting the VAT of seven per cent on print media and publishing companies and by reducing frequency concession fees for electronic media.

Source: Balkan Insight (Montenegro)