KNOXVILLE (WATE) – Publishers of free newspaper Knoxville Mercury said Wednesday they would be publishing their final issue later this month, citing insurmountable financial difficulties.
An article on the paper’s website published by editor Coury Turczyn says the last Knoxville Mercury would hit newsstands on July 20. Turczyn says the paper was unable to raise enough money through advertising, readers and large donors to keep going.
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Knoxville Mercury launched just over two years ago following the closure of a popular and similar free newspaper, the Metro Pulse. Three former Metro Pulse workers gave up their severance pays to help start the new paper.
Turczyn’s article says while the paper was popular, it cost more to produce than they were bringing in. They initially thought they’d be able to retain the same level of advertising as the Metro Pulse, but during the six months it took to launch, many advertisers had moved on from the print market.
“We thank all of you who stood by us—freelancers, readers, advertisers, donors, online sharers and commenters, letter-writers, and interview subjects. It was a grand endeavor,” read the article.