Stabroek News, one of Guyana’s daily newspapers launched in the 1960s Friday announced that it had taken the ”extraordinarily difficult and painful” decision to shut down its operations.
Stabroek News becomes the second media entity in the Caribbean to cease operations in recent weeks, following the NEWSDAY newspaper in Trinidad and Tobago.
In a lengthy statement, Isabelle and Brendan de Caires, the two main shareholders of Stabroek News, said in the past year, the state-run Department of Public Information (DPI) has accrued a debt to this newspaper in excess of GUY$80 000 000 (One Guyana dollar=US$0.004 cents) in unpaid advertisements.
“The debt persists despite repeated private and public entreaties to clear it. This tactic could equally be construed as an attempt to starve this company of its operating funds.”
