The Covid-19 pandemic has thrown the media industry into crisis. Hundreds of journalists have either lost their jobs or they are on the verge to lose their jobs around the world.
Most news organisations are dependent on advertising revenue. However, sudden shock to the global economy led to an immediate collapse in advertising business too.
The dramatic collapse in advertising is the most concerning aspect of this crisis.
Even though there are more viewers tuning into the Covid-19 story, a lot of advertisers did not want adverts for their brands placed beside such a negative story about a pandemic.
Domestically and globally, local news media outlets are experiencing the most acute effects of the current crisis and collapse in revenues.
Few days back business tycoon Malik Riaz decided to close the Urdu language Aap News television channel.
The administration has decided that salary of all employees for the month of March will be paid on April 14 and 15.
While the payment of salaries for the notice period between April 11 and May 11 will be paid on April 21 and 22.
Employees would receive 50 per cent of their monthly salaries on the 5th of each month for the next three months.
As per management report, Aap News television channel was closed over “unavoidable legal and technical reasons.”
The report further added that, Riaz will use his licensing rights to launch a new channel where employees of Aap News would be hired on a “priority basis”.