More than 100 journalists, editors and other team members lost their jobs today as the Arabic business newspaper Al Roeya closed down, according to sources at the Abu Dhabi newspaper.
The last edition of the newspaper will be printed tomorrow, said a source.
After almost 4 years in Alroeya newspaper. Today was my last day. I know some great people, get new experiences, improved and gained a lot in my professional life. Now it’s time for the new adventure. https://t.co/oowSaJ9Xpx
— Tareq Alghoul (@alghoul_tareq) June 20, 2022
Abu Dhabi-based privately-owned investment company International Media Investments (IMI), owner of Al Roeya, today announced its plan to launch an Arabic business news platform in partnership with CNN.
Developed and operated by IMI in partnership with CNN, CNN Business Arabic will provide business, finance and economic content for Arabic speakers, offering audiences the latest business information and analysis, reported the government news agency WAM.
Slated to be launched in the fourth quarter of this year, CNN Business Arabic will focus on global and regional economic news, analysis and reporting on business, company news, industry, technology and markets.
Earlier today, the CEO of IMI Nart Bouran visited Al Roeya’s Dubai office to announce that the management has decided to close down the newspaper.
As a result more than 100 people will lose employment at the company.
The IMI has announced internally three-month salary and two-month visa extension for the newspaper team members who can either cancel their job visa and leave the country or find another employment within the UAE, according to the sources close to the newspaper.
وقعت “الشركة العالمية للاستثمارات الإعلامية – IMI” و”CNNIC” اتفاقية شراكة يتم بموجبها إطلاق “#CNNالاقتصادية” لتكون منصة رقمية عربية مختصة بالاقتصاد والمال والأعمال، على أن تبدأ المنصة الجديدة أعمالها في الربع الأخير من العام الحالي 2022 pic.twitter.com/6pr5ukzoME
— صحيفة الرؤية (@Alroeya) June 20, 2022
Sources said that the mood at the Al Roeya newspaper office in Dubai was pretty gloomy and the shock was visible on the faces of the people when the CEO Bouran announced the closure this morning.
For more than 10 years, Al Roeya newspaper was servicing its audience in the UAE and beyond and had solid social media following on Twitter (793.9K followers), Instagram (108K followers), and Facebook (4.03 million followers).
Phone calls to IMI offices in Abu Dhabi and its CEO office for comment on the CNN deal and the Al Roeya closure went unanswered.
As per public records, IMI is a subsidiary of the Abu Dhabi Media Investment Corporation (ADMIC), and also owns The National newspaper and Sky News Arabia.