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Russian daily Noviye Izvestia suspends publication over financial woes

May 12, 2016, 12:41 UTC+3 MOSCOW
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MOSCOW, May 12. /TASS/. The Russian daily Noviye Izvestia (New Izvestia) has suspended its printed edition since Thursday over financial problems while its online version continues its work but also faces a closure threat, the daily’s website reported.

"Today the newspaper Noviye Izvestia is forced to halt its publication due to reasons beyond its editorial board’s control. The financial situation artificially created by some partners does not allow issuing and disseminating the newspaper’s printed version," the daily said in a statement.

"If we fail to resolve these problems in the imminent future, the newspaper’s website will also face the threat of its suspension," the statement said.

The Noviye Izvestia senior staff has taken "maximum measures" in the past few months "to stabilize the situation" but these efforts have failed, the statement said.

"Today we are bringing apologies to our readers for being forced to halt the publication. But we’re not bidding farewell… We are continuing negotiations… And we’re not losing hopes!" the statement said further.

The Russian socio-political daily Noviye Izvestia started coming out in 1997. It was founded by Igor Golembiovsky who had quit the newspaper Izvestia with some journalists. Valery Yakov has been Noviye Izvestia’s editor-in-chief since 2003.

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