Why Next Newspaper stopped daily publication – trouble in the house!
“The management of Timbuktu Media Limited, publishers of Next Newspaper has stopped further production of its daily edition in order to concentrate on the online and weekend versions of the paper.
“P.M.NEWS learnt that Dele Olojede, publisher of Next newspaper ordered that the daily edition should be suspended following overwhelming traffic drawn to the online version.
“Therefore with this encouraging traffic, the paper has to suspend the daily edition, concentrate on the online and weekend versions in order to reach a global platform, a top editor with Next told P.M.NEWS on Saturday afternoon.
“The bottom-line is for paper to reach more readers using the online version instead of the hard copy and make money through adverts and subscriptions, with a compact staff strength, the editor said.
“It was observed that Next newspaper was off the newsstands on Thursday and Friday this week without any official explanation about its absence.”
So that’s the official line.
The truth is that Next has not been able to compete on the newsstands with other newspapers. Its Sunday broadsheet held some appeal (mainly for the novelty of its aesthetic presentation) at the beginning but it soon became so thin in content that you wondered if they had enough people on the beats.
There is talk that Dele Olojede wants to concentrate on building on the gains of the Sunday edition while looking for investors to buy into the entire newspaper. True, the online version draws quite a good number of visitors but as I said, that is only half the story.
I have also heard it said that Mike Adenuga of Glo Mobile offered to buy Next (because Olojede does need investors), but the publisher was reported to have declined Adenuga’s offer due mainly to his being particular about the nature of the funds that help to buoy up the newspaper.
Last word on the street, Next editor Ms. Kadaria Ahmed has resigned, along with a few other top members of the newspaper family.
The publication is sure in trouble but it is not dead yet. I wish it well for it did promise to be a beacon of light…