After struggling to find new financial investors since filing for insolvency protection back in October of last year, Germany’s second largest news agency, dapd, was ordered to shut down on Thursday afternoon, leaving their remaining staff of around 150 without jobs. The sudden decision came after recent negotiations with their last hope for a partner, Russia’s RIA Novosti, fell through on April 9.
The dapd was formed in early 2010 when the German-language division of The Associate Press merged with Germany’s news agency ddp. Since then they have competed with dpa, the country’s top news provider, to provide content to news publishers throughout Europe. Up until October of last year, dapd continued to expand on a regular basis with the acquisition of France’s photo agency Sipa Press, a newly created sports service, and the opening of a news agency in France. With over 700 customers, the dapd provided over 500 stories and 2,000+ photos every day to German media outlets.