Economic Hardship Kills Bulgarian Daily Newspaper

The print edition of the Bulgarian daily Klassa will no longer be published as of October 1. Photo by BGNES

The publication of the Bulgarian daily newspaper "Klassa" (i.e. "Class") will be terminate in a month because of economic difficulties.

This became clear Tuesday as all employees of Klassa received their month's notice for the termination of their contracts.

The newspaper, which focused mostly on financial and economic issues, and printed content from The Financial Times, appeared on the market on September 3, 2007.

Neda Popova, Editor-in-Chief of the newspaper, has said that the measure is actually part of a restructuring of the media, which will terminate the publication of its print paper, but is going to preserve its online edition.

She has also made it clear she hoped that most of the Klassa journalists will be rehired for the website.

The Klassa daily is published by Klassa Bulgaria EAD managed by Milen Gerasimov, with Andrey Rusinov and Lazar Peshev as managing partners.

The newspaper has long been rumored to be connected to Bulgarian advertising and media tycoon Krassimir Guergov, who himself is believed to have confirmed indirectly these informal links in interviews for the Bulgarian press.

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