Metro International may sell, close U.S. editions
By Alisa Zykova, Tuesday 2 September 2008 at 16:45 :: Newspaper Data :: #2205 :: rss
As advertising revenue plummets across the United States, Metro International may sell off or shut down its U.S. publications if it cannot find partners, and its New York edition may be the first to go, the Times Online reported Sunday.
"What we have been doing in the U.S. is to look at all options. That means going into partnership with others or divesting," said Per Mikael Jensen, chief executive of Metro.
Metro revealed in July that it experienced a net loss of €1.9 million in July for the second quarter of 2008, with its Spanish and U.S. editions being responsible for the majority of the losses, the Times Online reported. In 2007, however, the firm made a profit of €1 million.
Metro, which is a Swedish outlet based in Luxembourg, launched in Philadelphia in 2000, in Boston in 2001 and in New York in 2004.
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