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Romania's first post-Communist newspapers closes

Romania's first post-Communist newspapers closes

Respected Romanian daily Cotidianul has closed due to insolvency.
Newspaper director Cornel Nistorescu says the paper closed Thursday due to debts of some (EURO)400,000 (US$571,000) that resulted from previous management giving free books to readers last year.
He says that, despite a management overhaul, the paper has been unable to right itself financially amid lower sales and advertising revenues due to the recession.
The daily's online edition will run until year's end.
Cotidianul was founded in 1990 by former presidential candidate Ion Ratiu, who in 1977 chained himself to the railings of the London Ritz while Stalinist leader Nicolae Ceausescu was there to protest Queen Elizabeth II's decision to knight the Romanian dictator.


Updated : 2021-06-17 16:01 GMT+08:00