Business lessons from the failure of ‘La Gaceta’ and its relevance in today's media environment: a comparative approach to the closures of ‘Tiempo’, ‘El Periódico de España’ and ‘Relevo’

Abstract

Introduction: This study examines the closure of four Spanish media outlets: La Gaceta (2009-2013), Tiempo (1982-2018), the print edition of El Periódico de España (2021-2024) and Relevo (2022-2025). This analysis is set in a context characterised by economic crisis and stagnation, as well as structural transformations, digital disruptions and new consumption habits. The causes behind the closure of these four media outlets are explored, with particular attention paid to the external and internal factors that contributed to their demise. La Gaceta is a prime example of business vulnerability, revealing factors relevant to the decline of other media outlets studied. Methodology: A descriptive and longitudinal approach is used, based on qualitative and comparative analysis. The research is supported by fieldwork based on eleven semi-structured interviews with senior managers and renowned journalists directly linked to these media outlets and their journalistic context. The analysis of these interviews is structured around four dimensions: launch, closure, external and internal factors, and continuity. Results and discussion: The findings reveal the combination and interdependence of macrostructural dynamics (economic crisis, decline in advertising, digitisation, etc.) and microstructural dynamics (poor management, indebtedness, inability to adapt, etc.). The closures, with nuances derived from the format and temporal context, follow a common pattern, which can be seen in the decline of the reference medium La Gaceta. Conclusions: The media analysed confirm the persistence of systemic risks in the Spanish media ecosystem. The sustainability of journalistic projects requires economic balance, hybrid models, income diversification and technological adaptation. The lessons learned from the failure of La Gaceta remain valid, reinforced by digital consolidation and the emergence of AI.