Frankfurter Rundschau newspaper initiates bankruptcy procedure
MOSCOW, November 14 - RAPSI. Druck und Verlagshaus Frankfurt am Main GmbH, the publisher of German newspaper Frankfurter Rundschau, has submitted a statement on the newspaper's bankruptcy to the court of first instance, Spiegel magazine reported, citing the court's spokesperson.
Frankfurter Rundschau is an influential newspaper which generally supports Germany's Social-Democratic Party. It has been published since 1945. Its circulation amounts to more than 160,000 issues.
It was rumored that the newspaper may be going bankrupt over the last several months, but the publisher repeatedly denied this. Spiegel reports that most of the newspaper's journalists have yet to learn of the upcoming bankruptcy.
The magazine also wrote that the issue on the possible closure of Financial Times Deutschland, another influential German newspaper published by Europe's largest publishing holding Gruner+Jahr, is currently being resolved as well.