Business newspaper in Brazil could close on Friday

Alastair Stewart of Dow Jones Newswires reports Tuesday that Gazeta Mercantil, Brazil’s oldest business newspaper, might cease publication on Friday.

Stewart writes, “CBM, owned by local businessman Nelson Tenure, will revoke its contract to publish the paper, leaving the decision to close the 90-year-old journal to Luiz Fernando Levy, son of the paper’s founder, Herbert Levy.

“Luiz Fernando Levy spoke to Gazeta journalists Monday, admitting the situation was bleak.

“The Gazeta Mercantil has been saddled by heavy debt for a number of years and suffered increased commercial pressure following the launch of rival paper Valor Economico in 2000.”

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