A new global crisis has forced the closure of the biggest daily newspaper in the world, the Al Jazeera English news organisation, the Daily Telegraph reported.
The newspaper was founded in 1770 in the English port city of Plymouth.
It is owned by the Rupert Murdochs, and is the world leader in English-language journalism.
Its circulation, however, has been steadily declining since 2009, with just over 500,000 subscribers, down from 1.3 million in 2009.
Its editor-in-chief, Richard Moore, said the newspaper’s decline was the result of “a global economic slowdown and a global political climate of unprecedented uncertainty”.
“We are facing a situation that is unprecedented,” he told the BBC.
“The world is not looking to the future, it is looking to its past.”
The paper was also the first to publish a documentary about a woman accused of murder, which became a sensation around the world.
Moore said he expected the paper to survive the global financial crisis, which would have been catastrophic.
“It will survive, but the business model and structure of the paper is a long-term thing,” he said.
“What is the risk of the global recession?
There is a risk of financial instability.
What are the risks to the business?
It is a very long-run proposition.”
He said the Al-Jazeera news website had seen its audience increase by 50% in the past five years.
“We have a growing audience in countries that we have not traditionally been able to reach, but that has become the case with the digital revolution,” he added.
“Al Jazeera English is the number one news service for English-speaking people worldwide.
Al Jazeera has been the number 1 news service since it started.”‘
The most popular channel in the Middle East’The Daily Telegraph said the closure was the culmination of a “global economic slowdown” and the result, it said, of “the global political atmosphere of unprecedented uncertain uncertainty”.
The paper has more than 10 million subscribers and is known for its coverage of politics, business, culture, sport and the arts.
Its chief editor, Sam Woolley, said his paper would continue to be the number-one news source for English speaking people in the Arab world.
“In the Arab World, we are at the top of the world and we are seeing a lot of the countries, including the Gulf countries, in the news in Arabic,” he was quoted as saying.
“That is because of Al Jazeera.”
The Telegraph said its circulation had doubled in the last three years.
Moore told the Telegraph he believed the paper’s financial health was now “strong enough to survive”.
“I believe we are strong enough to get through the crisis,” he commented.
“I am not afraid of the collapse of the business and the future of the company.”
Al Jazeera has struggled in recent years, with readership dropping by almost 70% in 2010, according to its most recent financial report.
It also reported a fall in advertising revenue and an average drop of 25% in subscriber numbers over the past year.
Moore was named editor-at-large of Al- Jazeera English in July 2010.