April 22 (Bloomberg) -- Egypt’s only independent English-language daily newspaper printed in the country has closed after seven years, its editor-in-chief said today, after the uprising that ousted Hosni Mubarak eroded advertising and subscription revenues.
“Last Thursday, the editorial staff of Daily News Egypt was informed, quite abruptly, that our last issue was going to be the one which was published Saturday-Sunday, April 21-22, 2012,” the staff said in an editorial posted on the newspaper’s online edition today.
“The company is in liquidation at the moment,” Rania Al Malky said in a telephone interview. “The company was losing money. Like every business in Egypt after the uprising, we were suffering. Advertising almost ground to a halt, subscriptions were not doing well.”
Al Malky said the staff had been informed of the decision verbally by the investors who make up DNE’s parent company, Egyptian Media Services, on April 19. She did not have precise figures for the losses. Daily News Egypt was previously distributed along with the International Herald Tribune.
Ahmed Badrawi, one of the investors in the publication, declined to comment when contacted on his mobile phone.
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