Suffering losses of around Nu 10 million in the past financial year, Business Bhutan, the country’s only business newspaper may close down early next year, newsroom sources said.
The Saturday paper, launched in September 2009, with 48 pages every issue is much thinner today with just 12 pages; the newsroom has shrunk with senior journalists leaving and others are looking for jobs.
Revenue from advertisements between March 2012 and March 2013 has been just Nu 1.4 million while the biggest paper in the country, sources said, earned around Nu 3 million every month.
Pathbreaking investigative journalism and a government study rating Business Bhutan as the most credible private newspaper has not helped. Revenue started shrinking from the beginning of 2012 after the previous government announced a policy of controlling advertisments.
(Disclosure: I worked with Business Bhutan between 2009 and 2011)