After 32 years of operation and a remarkable journey from startup to market leader, Newsday newspaper has announced its permanent closure. The publication, which began in 1993 and achieved the status of Trinidad and Tobago’s highest-selling newspaper within two decades, succumbed to what management describes as ‘a perfect storm’ of industry challenges.
The closure represents more than just the failure of a single publication—it symbolizes the severe pressures facing traditional print media globally. Unlike larger media conglomerates that can absorb losses across diversified portfolios, Newsday operated as a standalone entity with no corporate safety net to cushion year-on-year financial declines that have become endemic throughout the industry.
Multiple converging factors contributed to the newspaper’s demise. The COVID-19 pandemic delivered a significant blow as nationwide shutdowns caused advertising revenue to plummet dramatically. However, management emphasizes that the pandemic was merely one element in a complex crisis that developed over more than a decade.
Financial pressures mounted from multiple directions: raw material costs, particularly newsprint—the company’s largest expense—skyrocketed over the past ten years. Maintenance expenses for specialized printing equipment also increased substantially as manufacturers of crucial components went out of business due to industry contraction.
The company also faced substantial legal challenges, emerging victorious from a prolonged court battle that reached the Privy Council level but left the organization over $3 million out of pocket. Despite winning costs at every judicial level, the slow pace of assessment procedures meant the company could not collect awarded funds while continuing to bear operational expenses.
Consumer behavior shifts proved equally damaging. When Newsday increased its cover price from $2 to $3—still less than the cost of a local doubles snack—40% of readers abandoned the publication. This rejection came despite the hundreds of staff working around the clock to deliver news coverage.
Most devastating has been the advertising collapse: print advertising revenue declined by 75% over the past decade, creating an unsustainable financial model when combined with rising production costs.
In its farewell message, Newsday expressed pride in its legacy of ‘unwavering independence’ in serving the public and gratitude to loyal readers and dedicated staff who worked tirelessly for over two decades. The publication concluded with a warning about democracy itself being under threat when media organizations face existential crises, encouraging continued support for journalists and media colleagues throughout Trinidad and Tobago.