Democracy Today, a local daily newspaper, issued a statement yesterday, saying that it has suspended its circulation for unlimited days due to huge losses.
Hlaing Bwar, Deputy Chief Editor of the Democracy Today said: “We temporarily stopped the publication of newspapers. The circulation of newspaper may resume in the future.”
In its statement dated December 2, the Myanmar News Network Company publishes Democracy Today. As of November 1, 2019, the company had to stop its publication temporarily due to losses. At a meeting with all staff from the newspaper on November 30, 2019, the company officially announced the suspension of circulation.
“The company was operating publication without any profit. Media industries are facing losses. The company is unable to cover the losses any longer. Not only our media but also other global media are facing the similar problem. The print media are collapsing. Our problem is due to this impact. It is one of many reasons. Print media are not in a position to compete with Facebook and online media. I don’t think this trend has an impact on the print media in a hurry manner. I think we should pay more attention to online and digital media,” Hlaing Bwar added.
The company will pay salaries and compensations to staff in accordance with the law. Similarly, the company will pay fees to the columnists urgently, the statement says.
The paper started its publication in 2014.