By: (AP)
Italy Daily, the only English-language daily newspaper in the country, published its last edition this weekend, falling victim to a severe drop in advertising revenue.
The four-page paper, which came as a supplement to the
International Herald Tribune, will convert into a 12-page weekly publication after five years in business. Publication of
Italy Weekly will begin Jan. 17.
Italy Daily focused on national news and cultural stories and appealed primarily to an expatriate audience. It was owned by the
International Herald Tribune and Rizzoli-Corriere della Sera, which publishes the nation's leading Italian-language daily.
"This unfortunate decision was forced upon the IHT/RCS joint venture by the difficult market conditions in Italy in the past 18 months, which have led to a sharp decline in advertising support for the five-year-old
Italy Daily," the paper said in a statement earlier this month.
The
International Herald Tribune has several international partnerships producing local supplements, from Greece to Israel to South Korea. In Germany, the English-language edition of the
Frankfurter Allgemeine Zeitung suffered the same fate as
Italy Daily in June, going from a daily to a weekly due to rising production costs.
In the past, several English-language daily papers have appeared in Italy. None have stayed in business.
The New York Times and
The Washington Post have jointly owned the
International Herald Tribune, but the
Times announced in October that it was buying the
Post's stake.
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