Times Group in a statement today (December 5) announced the shutting down of its daily Mumbai Mirror, said it will now be relaunched as a weekly, and also said Pune Mirror has been shut down completely.
It is also mentioned in the statement that Mumbai Mirror will continue to have its digital presence.
Times Group said this decision has been taken due to the economic crisis triggered by coronavirus pandemic.
Times Group releasing a statement said, “Not only has the newspaper industry been among the hardest-hit in terms of revenues, it has been weighed down by an import duty that has added to newsprint costs. With a stimulus not materialising and Indian economy now officially in recession...."
Here is the full statement of Times Group:
Fifteen years ago, the ‘city that never sleeps’ had a new and good reason for staying awake – and for waking up, when it did manage to get some sleep: Mumbai Mirror. Feisty and fearless, energetic and enthusiastic, playful yet punchy, it lived up to its name from the day it was born, mirroring Mumbai in all its myriad moods. It was as local as Mumbai’s locals – the lifeblood that keeps the city on track and moving. The paper became such an integral part of the reader’s life, driving the narrative of the city, that it was decided to extend the experience to Bengaluru, Pune and Ahmedabad.
Sadly, just as the pandemic, lockdown and unprecedented economic crisis have laid low many great ideas and initiatives before they could fully take root, they came as a body blow for the still-young brand. Not only has the newspaper industry been among the hardest-hit in terms of revenues, it has been weighed down by an import duty that has added to newsprint costs. With the long-held hope of a stimulus not materializing and the Indian economy now officially in recession, it is with a heavy heart that the group has decided to cease publication of Mirror in Pune and relaunch Mumbai Mirror as a weekly. They will, however, continue to have a strong digital presence.
Following months of discussions and deliberations, we have made this extremely difficult and painful decision to recalibrate our portfolio of publications. We truly value the contribution of our journalists and other staff towards building such a strong brand in a relatively short time, and thank them for their hard work and great effort.
