"In terms of content and style the paper was well received; it was seen as innovative. Research showed that most people in the target market enjoyed it when they got it. Some advertisers were beginning to value the paper. But circulation remained flat.
"As to distribution, we had not yet succeeded in reaching sufficient numbers of people in the niche. Converting our target market of high-income non-newspaper-reading metro people to a regular newspaper-reading habit proved difficult."
Staff members of Nova (active in either circulation, advertising, administration or editorial departments) are affected. Most will be placed elsewhere in the group.
"We want to make a special gesture towards those subscribers and advertisers who joined us in this experiment. To show how much we valued their custom we will refund their full contributions," said Du Plessis.
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