Financial Chronicle shuts down as DNA bids goodbye to Delhi edition

New Delhi, Feb 6 (IANS) In a strong signal about the future of print media in the digital era of news, Deccan Chronicle Holdings on Wednesday decided to shut down the print edition of Financial Chronicle (FC) across five cities and Zee Media Group-owned English daily DNA bid goodbye to its Delhi edition with immediate effect.

Once a busy newsroom, FC was left with a couple of journalists as salaries dried up.

A former FC journalist told IANS that they were not receiving salaries for over five months and were unable to run households.

"It was difficult for us to keep working while not being paid. The tide was coming," he said.

Deccan Chronicle Holdings has shut down all five FC editions -- New Delhi, Hyderabad, Mumbai, Bengaluru and Chennai.

Zee Media Group-owned English daily DNA also shut down the Delhi edition on Wednesday and will only retain a bureau in the Capital.

An inside source revealed that the Delhi DNA office was now being converted into a bureau and the "management wants to concentrate on the main Mumbai edition". It was a part of Diligent Media Corporation Ltd (DMCL) that was incorporated in 2005 as a joint venture entity of two media conglomerates -- Essel Group and Bhaskar Group.

The first DNA edition was launched in Mumbai on July 30, 2005.

Post exit of Bhaskar Group in 2012, the company is now part of the Zee Entertainment Enterprises Ltd (Zeel) promoter Essel Group which is currently embroiled in money laundering allegations in the aftermath of the November 2016 demonetization.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)