Publisher of Newswatch magazine and Chairman, Board of Directors of Newswatch Communications Limited, Mr. Jimoh Ibrahim, Monday suspended further publication and circulation of the magazine from the news stands, saying the product requires a total repositioning.
In a statement Monday, Ibrahim, who disclosed that his decision to suspend the magazine had been approved by 51 party shareholders of the company under the aegis of The Global Media Mirror Limited, added that the decision was taken to reposition the magazine and as well make it relevant to modern developments.
Ibrahim further said "the remains of the magazine would now operate at 159-161 Broad Street, Marina, Lagos to enable us overhaul and reconstruct the old office, adding that the new office is equipped with modern day technology (including computers and ipads) and standard furniture. But regrettably, it will not house incompetent staff."
However, he added that any staff that is not found fit to key into the new arrangement should proceed to the account department at Marina to collect their outstanding salaries.
Explaining further the rationale behind the move, the business mogul said: "The National Mirror went through this similar template of rebirth from the old National Mirror to the new National Mirror, which is now competing favourably with its peers. I commend the publishers of The News magazine for operating in a modern office with new technology, while I also see the TELL magazine's facelift and rebranding as unprecedented in the history of Nigerian journalism."