Reported about 1 year ago
The nearly 200-year-old British newspaper, Evening Standard, announced its closure and plans to lay off 150 employees, including full-time journalists and editors. The closure was attributed to significant losses, with factors such as the shift to remote work due to the COVID-19 pandemic and the installation of Wi-Fi on the London Underground being main contributors to the decline in readership. The newspaper's owner, Lord Lebedev, has been investing additional funds amidst a challenging media landscape, but with the digital shift and rising costs, the newspaper's circulation has halved over the past decade, dropping from 70 to 30 pages, and reaching less than 300,000 copies in 2023.
Source: YAHOO