via WikipediaThe China Times, one of the major newspapers in Taiwan will fire about half of its 1,200 strong staff, the paper's owner announced according to media reports.Stiff competition from Hong Kong-invested tabloid publication Apple Daily, a sharp increase in pulp prices, a decline in ads due to the weak economy and convenient access to the internet as well as television news networks were cited as the causes for the losses at the China Times, which was founded in 1950.The blow for the media industry comes at a time when most news coming from the print industry looks like the obituary section. It is part of a worldwide trend where income from both audiences and adds are dropping very fast, this year in some cases with double digits. Efforts to go online have not yet proven to be a strong alternative for the traditional media, although the figures for online readership and related revenue are on the rise.
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