Publishing groups Wegener and Mountain Media are closing down free newspaper De Pers after five years at the end of this month.
‘As a result of rapidly deteriorating conditions in the daily freesheet market, Wegener has been unable to generate advertising revenues in De Pers at anywhere near the level of the fixed annual fee payable to Mountain Media,’ a statement from Wegener’s owner, Mecom, said.
De Pers was set up by private investor Marcel Boekhoorn at the end of 2006. Three years ago, Boekhoorn’s Mountain Media signed an agreement with Wegener under which Wegener would take over responsibility for advertising in return for a fixed fee.
Wegener is paying Mountain Media €45m in compensation for ending the advertising agreement, the statement said.