Tuesday, 3 January 2012

Crunch time for over 100 Italian papers

A worrying report from today's FT which says that over 100 newspapers in Italy face closure as the country gets to grips with tightening its fiscal budget.

 According to the report the cuts in newspaper subsidies, from €170m in total to €53m budgeted for next year, were ordered by the previous government of Silvio Berlusconi,and confirmed by Mr Monti’s administration, which took office last month.

Other notable titles facing the chop include adds the report,L’Unita, the former communist party daily founded by Antonio Gramsci in 1924; Il Manifesto, an independent leftwing paper since 1969 and Avvenire, a popular Catholic daily.

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