Trinidad and Tobago Newsday shuts down after 32 years

Source: trinidadexpress.com

The Trinidad and Tobago Newsday is shutting down after more than 32 years of publishing a daily newspaper.

The newspaper, published by Daily News Ltd, has applied to the High Court for an order to wind up the company under the Companies Act, according to an advertisement on Page 8 in the Express.

It is understood that today is Newsday’s last publication.

The company’s Managing Director Grant Taylor said in a statement published by Newsday last night that a “perfect storm of challenges” led to its closure.

However, it is understood that staff were caught by surprise by the announcement. “Guys, we managers only found out about it very late this afternoon and decided to publish it online, then hold an impromptu meeting with the few staff members still in the newsroom,” a senior editor told staff.

A full staff meeting is scheduled for Monday and will be chaired by Taylor.

In the statement posted online by Newsday last night, Taylor outlined the reasons the newspaper had to close its doors.

“Newsday is no different in most respects from the other players in the market; this is an industry under severe pressure. But one crucial difference is that, as a stand-alone entity which is not part of a media conglomerate, there is nowhere for Newsday to hide the year-on-year losses all the local daily newspapers are suffering,” he said.

“Whilst the scourge of Covid is certainly a factor — as the country shut down more than once, and with it, advertising sales fell off dramatically — that was by no means the only nail in the coffin.

“The elements of this perfect storm are as varied as they are damaging, with no single factor exclusively to blame. This is also not a ‘this just suddenly happened’ scenario, but rather, a symphony of events playing out over a decade,” he added. Taylor noted the challenge was not unique to Trinidad and Tobago, as traditional print media have long been under pressure globally. “Some challenges have been causes of our demise; others have hastened it,” he said.

Perfect storm

Taylor said the cost of raw materials, particularly paper, the largest expense, has soared over the past decade. In addition to this, he said the cost of machinery and its maintenance has also risen sharply. “The world has also changed, and T&T is no different. The value placed on traditional media has diminished and the political campaign to discredit them for nefarious reasons has ramped up,” Taylor said.

According to Taylor, when Newsday raised its price by $1, from $2 to $3, 40 per cent of its readership said, “No, thank you.”

Taylor noted that even at half the cost of a doubles, many readers felt the price was too steep. “A newspaper entails hundreds of people working every day of the year, and working around the clock, to keep the public informed — but $3 is too much to ask for that service. Advertising revenue has also decreased significantly over the last decade.

“Advertising in all media is a fraction of what it was then, but for print media, that drop has been most severe. Print advertising has fallen by 75 per cent. In the context of the significant increase in costs, this is the most impactful element of the perfect storm that has been brewing over the last decade,” he said.

Proud legacy

Taylor said he was proud of Newsday’s legacy. “As we become another statistic in the casualties on the print media landscape, we remain proud of our legacy of unwavering independence in keeping the public informed. We are grateful to those who supported Newsday throughout, to longtime readers and those who discovered and came to appreciate the paper’s strengths more ­recently,” he said.

“We are grateful, too, to the dedicated staff of every department who worked every day and night for over two decades, determined that the paper must come out, in the interest of that readership,” he said.

Taylor urged the people of Trinidad and Tobago to continue supporting journalists and media colleagues. “The media are one of the most important elements in any democracy, and it is a telling sign of a ­democracy itself under threat when the media are under threat,” he said.

He said industrial relations have always been difficult, from aligning all stakeholders to facing rulings that at times ignored the financial realities of companies, often harming both the ­organisation and its staff. “It would be remiss, however, not to mention that the courts seem to have changed their approach in more recent times. The cost, however, is in the millions and is a challenge for a small company,” he said.

Founded on September 20, 1993, Newsday was the youngest of the country’s three daily newspapers. Newsday’s main office is on Pembroke Street, Port of Spain.

The winding-up petition

The petition, filed on December 31, 2025, is listed under case number CV2025-05399.

“Notice is hereby given that a petition for the winding up of the above-named company, Daily News Limited, by/subject to the supervision of the Court, was, on the 31st December, 2025 presented to the said Court, by Daily News Ltd of Unit C, Patraj Trace, El Socorro, San Juan, Trinidad and Tobago,” it stated.

“And that the said petition is directed to be heard before the Court at 10 a.m. on the 19th January, 2026; and any creditor or contributory of the said Company desirous to support or oppose the making of an order on the said petition may appear at the time of hearing in person or by Attorney-at-Law for that purpose; and a copy of the petition will be furnished to any creditor or contributory on payment of the regulated charge for the same,” it stated.

It was signed by attorney Miguel Vasquez of M Hamel-Smith & Co.

“Any person who intends to appear on the hearing of the said petition must serve on or send by post to the above-named, notice in writing of his intention so to do. The Notice must state the name and address of the person, or, if a firm, the name and address of the firm, and must be signed by the person or firm, or his or their Attorney-at-Law (if any), and must be served, or if posted, must be sent by post in sufficient time to reach the above-named not later than one o’clock in the afternoon of the 17th January, 2026,” it stated.