Dubai: Free tabloid newspaper 7DAYS is closing its doors citing a challenging print business model that would not allow the 13-year old publication to continue operations.
Less than a month after cutting its daily print run to a weekly paper, newspaper owners 7DAYS Media said on Wednesday in a statement that it is shuttering the newspaper and its online news website by year’s end.
The final issue of 7DAYS – owned by UK’s General Trust and the Daily Mail -- will roll off the presses on December 22, the firm said in a statement circulating on social media.
“The newspaper enjoyed wide readership from different segments in the UAE, especially the low income household which we had considered as our main readership target,” Editor in Chief Mahmoud Al Awadi told Gulf News. “However, the financial circumstances didn’t allow us to continue what we love to do- journalism.”
Al Awadi expressed his “sincere thanks to the team, which had made 7 Days a beautiful paper.”
CEO Mark Rix said “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.
“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.”
