THE announcement yesterday that the Evening News had suspended publication was greeted within the media with some sadness, but little surprise.
When it first appeared on the streets last May the newspaper sought to carve a niche in the market and compete with the Evening Herald. It never did.
From day one it was dogged with problems. On that first day, Monday, May 27th, it failed to appear in Dublin until late afternoon.
Similar delays were experienced on the second and third day. After that many people who might have stayed with it gave up.
The deadlines were far too early for an evening newspaper. During July these problems were highlighted when the newspaper initially failed to report the death of journalist Veronica Guerin.
However, marketing and financial factors probably had more impact on the newspaper's viability.
It was launched at the beginning of the summer when advertising traditionally falls. Advertising industry sources suggested an earlier launch would have benefited from the post Christmas and spring advertising surge, while an autumn launch would have allowed it to be included in the winter and Christmas advertising campaigns.
The Evening News's main advantage was that the Herald had increased its cover price to 65p shortly before the launch. The Evening News was 60p.
The Evening News never had a big investor. Much of the investment was in terms of printing and newsprint, rather than actual cash. The total investment was never fully disclosed. The main shareholder, the Midland Tribune Group, also supplied the main printing plant in Birr. It was also printed in Ashbourne, Co Meath.
The cost of its launch was put at £11/4 million. It is believed it now needs about £11/2 million if it is to be relaunched.
Another factor was the sheer competitiveness of the Irish newspaper market, in particular the evening newspaper market. In addition, the Evening News was not simply competing with the Evening Herald, it also faced daily competition from cheaper British imports.
The situation for evening newspapers around the world is little better than exists in Ireland. Many are being forced to close or are being redefined as all day newspapers, like the Belfast Telegraph or the London Evening Standard.
An examination of the circulation figures of the Evening Press and the Evening Herald shows clearly how the market was going. .Both papers had falling circulations and it was only the demise of the Evening Press that allowed the Evening Herald to halt its slide and pick up sales. The last audited circulation figures show the Herald going downwards again, from 121,216 for the six months up to December of last year to 118,942 for the first six months of this year. The Evening News was not around long enough to have audited figures.
Advertising industry sources suggest that it was selling well below 20,000 copies a day.
Last May, its editor, Mr Dick O'Riordan, a former editor of the Evening Press, said that for the Evening News to be viable it needed a daily circulation of 40,000.
Despite the pessimism within the newspaper and advertising industry, the announcement yesterday that the company had run out of money surprised staff. Last July they had taken a 20 per cent pay cut for three months to allow the newspaper time until it started earning advertising revenue. Many had hoped that they had got over the worst.
Instead, for many, they are unemployed for the second time in less than two years. No one will receive statutory redundancy, as they have not been employed long enough.