The employees of French newspaper Nice Matin, along with sister publications Var-Matin and Corse-Matin, launched a crowdfunding campaign on Ulule on August 4th. Three weeks later the project organizers have hit their goal of raising € 300,000 as over 2200 individuals have contributed € 5 and up to help a group purchase a publication that is reportedly on the brink of bankruptcy.
In an update to supporters the organizers of NiceMatinMonQuotidien thanked everyone for their contributions and shared the hope they could raise even more. The project has set an interim goal of raising € 450,000 with the possibility of surpassing the platform record of € 680,000 that was raised by “Noob” the film last year.
Nice Matin a media company that generates €100 million in annual revenue is on the sales block to be sold the group of employees hopes to secure sufficient funding, along with cost reductions, to mount a viable bid. Bids are to be finalized by the end of September.
Nice-Matin has suffered a dramatic decline in print circulation as have most traditional print publications. The drop in readership, driven by internet usage, has engendered a decline in advertising and circulation. Nice-Matin ended 2013 with an operating loss of €6 million.
The crowdfunding campaign on Ulule is scheduled to end in three weeks.
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