Agora cuts its losses and shuts down its new daily

Nowy Dzień, which was the third daily paper published by the group,  generated an operating loss of zł.27 million during the three months it was on sale. Agora revealed that marketing and promotion related to the launch of the paper cost zł.24 million. In order for the daily to become profitable, it had to maintain a sales level of 250,000. However in the last two months of 2005 sales stood at 190,000, while in January it fell to below 100,000. "We came to the conclusion that turning around the negative tendencies and reaching the target sales level is impossible, while covering the further costs related to printing the daily would not lay in the interest of the company," said Zbigniew Bąk, Agora's management board member. (Parkiet, p. 2) A.K.