Tuesday, June 9, 2009

"Young Estonia" declared bankruptcy.

Popular in Estonia, Russian-language daily newspaper "Young Estonia" announced early in the process of bankruptcy. That was reported by Interfax on Tuesday, June 9.
According to the Chief Editor Rodion Denisov, the publisher has decided to file in court a statement of the beginning of bankruptcy. The first sitting of the court in the bankruptcy proceedings should be held on 26 June 2009.
As the "Interfax", "Youth of Estonia" is the oldest Russian-language newspaper in Estonia. July 15, 2009 it should have been fulfilled 50 years. Because of the financial crisis in recent newspaper has experienced economic difficulties.
In late April 2009 edition has suspended production. Then Rodion Denisov explained that problems arose because of the sharp drop in advertising market.
Interfax noted that in Estonia after the eventual closure of the Youth of Estonia "will remain a Russian-language newspaper of national scope - translated version of the Estonian newspaper Postimees. However, in Estonia continued to go the local Russian-language publications with small print runs.
In April of 2009 in Estonia because of the crisis, was suspended by the Russian-language issue of "News of the day."

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