Cash newspaper to be discontinued: Concentration on digital offering
As of March 23, the business and finance platform Cash will focus on paperless distribution and the free newspaper Cash will be discontinued. The reason for this is the downward trend in the advertising market.
The business and finance platform Cash will focus on paperless distribution from March 23, 2009. As Ringier-Verlag announced on Tuesday, the free newspaper Cash will be discontinued. However, the range of daily business information will continue to be available on the Internet and via mobile applications. The Cash.ch platform, Cash TV and Web TV will continue to be offered.
The Cash.ch platform has recorded sales growth of 30 percent in each of the last two years. In February alone, 2,522,000 visits were recorded with 330,000 unique clients. In the next phase, the information will be offered via e-reader technology and other mobile applications.
According to Ringier spokesman Stefan Hackh, 17.9 full-time positions will be cut as a result of the closure of the daily newspaper. This affects 23 people. A social plan is in place for them. At Cash, nine employees will remain in the editorial department and seven in the publishing house. The changeover to paperless distribution had previously been planned for 2012. Due to the downward trend in the advertising market, Ringier's Board of Directors has approved the management's proposal to take this step now.
The Cash.ch platform has recorded sales growth of 30 percent in each of the last two years. In February alone, 2,522,000 visits were recorded with 330,000 unique clients. In the next phase, the information will be offered via e-reader technology and other mobile applications.
According to Ringier spokesman Stefan Hackh, 17.9 full-time positions will be cut as a result of the closure of the daily newspaper. This affects 23 people. A social plan is in place for them. At Cash, nine employees will remain in the editorial department and seven in the publishing house. The changeover to paperless distribution had previously been planned for 2012. Due to the downward trend in the advertising market, Ringier's Board of Directors has approved the management's proposal to take this step now.
