Business Jimoh Ibrahim Winds Down Newswatch Times Newspaper [Eagles Online]

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The Publisher of Newswatch Times, Barrister Jimoh Ibrahim, has decided to closed down the operations of Newswatch Times, according to Eagles reports.

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.

It will be recalled that following a court order which favoured the company’s minority shareholders by shutting down Daily Newswatch newspaper last year, the Publisher of the paper, Jimoh Ibrahim, quickly floated Newswatch Times.

newswatch.jpe

Both Newswatch Times and the National Mirror, also owned by Ibrahim, have been on and off the news stand in recent times.

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"





Source: Eagles
 
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