Execs resign as Inquirer.net folds back to PDI
Based on accounts from several reliable sources, the operations of online publication Inquirer.net will be folding back and joining the Philippine Daily Inquirer publication anytime now.
The site Inquirer.net will not be closing down, contrary to earlier rumors but will be consolidated with the operations of the print publication. Although the Inquirer.net team has not yet moved offices, the status of this consolidation is still “on hold”.
Several key people have already resigned from the team, including Editor-in-Chief JV Rufino and VP & Executive Editor Leo Magno, a couple of weeks ago.
Apparently, the online advertising business model that Inquirer has been swimming on in the last decade didn’t really pan out. While operations grew and content creation expanded to web videos and a blog network, the ad money wasn’t enough to sustain the business. Some part-time bloggers in the Inquirer Blog Network were also asked to stop writing a few weeks back.
Inquirer.net used to be Inq7.net which is a joint venture between PDI and GMA 7 until the latter bolted off of the partnership to put up its own website, GMA-News.tv. Inquirer.net is the top online destination in the Philippines and this development could have a huge impact in the online publishing industry in the Philippines.