Egyptian Chronicles: When will they announce their bankruptcy ??

The Press industry is facing hard time worldwide . Despite It has been suffering enough from the Internet still it finds itself in front of a financial Crisis . The Tribune announced its bankruptcy.
The Christian Science Monitor is no longer printed and shifted to the web .
The New York Times requested a multimillion loan to pay its mortgage and this is the famous NY Times.
Radar Magazine also no longer printed despite I loved its topics
Even the Play Boy magazine is facing hard time already that made Christie Hefner resigns where as she is the daughter of the founder of the magazine. The magazines are shifting to the internet to save the costs despite the challenges.
Ironically those big press giants do not hide their financial scandals on the contrary they announce it and discuss it.
Unfortunately our official press which is owned by the state is suffering huge crisis and they do not want to admit. The circulation of the official newspapers is decreasing every year rapidly for economic, political and managerial reasons.
The people won’t buy a daily newspaper for L.E 1 Per day or even more in this terrible economic situation , it is a luxurious for the average Mohamed in Egypt and thus you find now many people who only read Al Ahram weekly edition on Friday. The TV News and internet are much cheaper substitutes.
The educated classes also got sick from the huge amount of lies and hypocrisy just like us after being faithful to Al Akhbar for more than 50 years we boycotted because of its sick chief in editor. These classes also find the substitutes in independent newspapers and the internet.
Those public publication houses which I think mainly 7 ( "Al Ahram", "Akhbar Al Youm",”Dar Al Tahrir"," Dar Al Halal","Dar Al Maraf","Al Tawan" and "Rosa Al Youssef" ) suffer with no exception from huge managerial corruption. Huge amount of public money was stolen.Al Ahram's former Chairman and Chief in editor Ibrahim Nafea has his own financial scandals that no one is speaking about now. Despite all that scandal he is being treated in Paris and the state is paying his bills despite he can afford it and many people in Egypt are in need of that money. Nafea when he left Al Ahram no one believed that biggest newspaper in Egypt suffered from loses and deficits. Al Ahram in a perfect world is a treasure for the state , it is enough to see the number of ads in the newspapers especially on Friday. Al Ahram already has its own advertising agency .
Not only that Al Ahram gets millions from the obituary and classified pages on the daily basis still you must know that the Chairman and the Chief in editor takes a percentage from the ads !! can you believe it ??

Same thing in Al Akhbar which I know that Mustafa and Ali Amin would have suffered more than the days of Nasser if they had known in advance what would happen in their wonderful newspapers. Useless projects like a Car maintenance service and a Private university are not needed. For God Sake the NY Times which is older does not have its own private university !!?? Already Mustafa and Ali Amin did not want this and I think they cared most for their publishing house. My grandfather was a student and also a dear friend to late Ali Amin and he once told me that late Ali dreamt that the day would come and his newspaper would be delivered by the helicopter so it would be faster.
Al Akhbar and Akhbar Al Youm specifically lost dramatically since Momtaz Al Kut has become the chief in editor with his over load endless hypocrisy. This man technically kisses the ugly ass of the regime with all my due respect. He is an insult to this respectful house in fact if the Amin brothers knew in advance that someone like him would be the chief in editor of their weekly newspaper that started a new school in Egypt they would not have opened it.

I do not need to speak about Al Tahrir publishing house but it is enough to know that Samir Ragab “the former chairman and chief in editor of Al Gomhouria” had a Jacuzzi in his office !! Can you imagine it !!??

“Rose Al Youssef” is on the break of bankruptcy and they do not want to say it. Its circulation is declining and at the same time they made a huge mistake when they published a daily coloured newspaper by the same name. It is a strange stupid move after all the woman who established this magazine didn’t want to have a daily newspaper despite she could have especially in the old good time !! The newspaper is a disgusting speaker of the government that no one buys.

I won’t talk about the other three publishing houses because they are suffering from the terrible financial status for the same reasons.

Surprisingly last Tuesday the high council of journalism announced that the Public or official publishing houses were sound and there was nothing wrong in their financial status !!?? I do not know whom they are fooling but I know the government can’t announce the bankruptcy of these institutions because in the end who chose those thieves and unqualified personals in their managerial and administrative jobs in the official newspapers ?? They chose them because they wanted the best type of liars and hypocrites to kiss their ugly asses day and night and say Amen on everything the regime says !! Well this comes with high price I am afraid the government is not paying from the ministers money but rather the public money , our money !!

Sometimes I wonder why does the government leave the official press like this ?? Will the official Press join the factories in the privatization queue or what ??