Netzeitung to be discontinued at the end of the year
The Berlin-based online publication Netzeitung is set to close. According to the DuMont Schauberg publishing group, the project will be discontinued as of December 31, 2009. Financial reasons are cited as the cause.
For industry experts, the bankruptcy is an expression of the difficulty news publishers have in finding a suitable business model for the internet age, as Pressetext.ch reports. In addition, Netzeitung was underfunded from the outset in order to provide enough interesting content. The significant increase in competitive pressure on the online news market also played its part. In future, Netzeitung will be used as an "automated news portal", according to the publisher. Exact details are not yet known.
