The Jamaica Times newspaper says that it will close its doors in December due to a corruption scandal.
The paper says that its main competitor will take over its operations in the coming weeks.
The announcement came on the same day that the government approved a $1.6 billion loan to the newspaper to cover a major restructuring of the paper’s operations.
The newspaper says the company that operates it, Sustralia, has been accused of embezzling money from the state government to pay off the government-owned company that owns the newspaper.
Sustrala was bought in the middle of last year by the Jamaican Investment Corp., or JICA.JICA’s takeover has angered the government and the Jamaica Times has complained about the deal to the Ministry of Finance, which is the main regulator of the newspaper’s operations, as well as the media.
The government says that the merger has given the newspaper more independence, but the paper says it has not been able to prove this and it has asked the Ministry for a probe.