[ad_1]
Hong Kong-based investigative information company FactWire has closed down after six years of watchdog reporting on the town, the place fears are rising about shrinking press freedoms.
The bilingual crowdfunded information web site posted an announcement on its web site on Friday asserting it was terminating its operations efficient instantly however didn’t give a transparent motive as to why.
“For the previous six years, now we have accomplished our greatest to maintain this publicly-funded investigative information company afloat in Hong Kong, while adhering to the best requirements of journalistic integrity,” the assertion learn.
The information company revealed that at one level, it downsized to simply two staff.
“However because of the continuous and beneficiant assist of you, the general public, we had been capable of navigate our dire monetary straits,” it added.
The information web site additionally famous the “nice change” that media businesses have needed to take care of in recent times and the way it had “wrestled many occasions with the tough resolution as as to whether to proceed our journalistic work.”
“We had at all times come to the identical affirmative conclusion: to face quick to our core values and beliefs, and to at all times report the info,” it added.
It additionally thanked individuals who supported the work of the company, describing its institution as a “dream come true.”
“However to each factor there’s a season, and a time to each objective. It has, eventually, come time to finish our journey,” the company mentioned.
FactWire mentioned all month-to-month subscriptions will probably be suspended as of Friday, whereas all workers will probably be dismissed in accordance with pre-established procedures.
Initiated by veteran journalist Ng Hiu-tung in 2015, FactWire — which was one hundred pc publicly funded — raised a record-breaking HK$4.7 million (US$598,791) by crowdfunding from greater than 3,300 backers in three months.
It started operations in March 2016 and its tales have been revealed by main Hong Kong information retailers in addition to worldwide media together with Reuters, BBC and the Monetary Occasions.
FactWire is the fourth main information outlet within the metropolis to shutter in lower than a 12 months.
It comes after Apple Every day, Stand Information and CitizenNews all closed following police raids and arrests or as a result of rising fears in regards to the security of their staff after the passing of the controversial Nationwide Safety Legislation, which critics say curtails freedom of speech.
[ad_2]
Source link