DNA shuts down all print editions, goes digital
In a later statement, Diligent Media Corporation Ltd (DMCL) that was incorporated in 2005 as a joint venture entity of two media conglomerates -- Essel Group and Bhaskar Group – said the newspaper will move to a digital-only format with immediate effect and the print publication of the Mumbai and Ahmedabad editions will be ceased effective from October 10.
Thursday will be the last edition of DNA in both the cities.
"The decision has been taken by the company in order to optimize cost and reduce the losses. DNA is an integral part of DMCL's news media offering and the company has always invested immense time, resources and energy in enriching it as a news platform, making it relevant and immensely informative for its readers, and will continue to do so," said the company.
"The steps taken by the company is to further sharpen the news platform and enhance its offerings keeping the audiences consumption patterns in mind," it added.
Earlier, in an editor's note in the newspaper, the newspaper said that "in this rapidly evolving market, a very thin line remains between the print and digital".
The DNA started operations from Mumbai in July 2005 -- a year that saw a couple of big players entering the financial capital with a bang, including The Hindustan Times and The Times Group's Mumbai Mirror that later diversified into several cities.
Earlier in February, DNA bid adieu to its Delhi edition.
Deccan Chronicle Holdings in February also decided to shut down the print edition of Financial Chronicle (FC) across five cities.
According to DMCL, over the last few months, DNA has grown multi-fold into the digital space, and will continue to be the preferred news destination as a web portal.
"The company will launch the DNA mobile application soon with a higher focus on video based original content," it added.