The Publisher of Newswatch Times, Barrister Jimoh Ibrahim, has decided to wind down the operations of Newswatch Times, The Eagle Online has been told.
This is coming amid the crisis facing the newspaper publication.
In recent times, the newspaper has been unable to make the newsstand owing to paucity of funds.
It was learnt that as at the time the decision to wind down the newspaper was taken, Ibrahim was owing staff of the publication 14 months salary.
Both Newswatch Times and the National Mirror, also owned by Ibrahim, have been on and off the newsstand in recent times.
This has been largely because of the failure of Ibrahim to fund the publications and their inability to generate funds owing to the overbearing attitude of the Publisher who dictates the editorial content, with the newspapers unable that way to be self-sustaining.
Newswatch is the most affected of the two though.
It was, however, learnt that the online edition of the newspaper will remain active.
Sources said only 10 staff or less would be retained to run the online edition.
A source added: “The winding down of Newswatch Times goes a long way to confirm that the Publisher is broke.
“And this could also be the end of his ambition to govern Ondo State as he cannot do this without funds and the backing of the newspapers he started largely for that purpose.”
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