PHNOM PENH, March 1 (Xinhua) -- Cambodia's oldest English-language daily newspaper, The Phnom Penh Post, will cease its publication by the end of this month due to financial losses, it announced on Friday.
The newspaper said in a statement that its advertising revenues have significantly decreased since the COVID-19 pandemic and the subsequent economic downturn.
"The rapid advancement of technologies and the widespread circulation of news through social media have also caused severe financial difficulties for the company," it added.
It noted that despite the shareholders' efforts to inject more funds and to generate income by all means, it has still failed to bear such losses.
"Therefore, our shareholders have decided, with deep regret, to cease the publication of the newspaper, both the English and Khmer editions, by March 29, 2024," the announcement said.
"We would like to express our sincere gratitude to all our customers, readers and business partners for your support of The Phnom Penh Post thus far," it added.
The Phnom Penh Post was launched in 1992. ■
