Penza, 16 April 2015. PenzaNews. “Penza-Online,” one of the oldest city information websites that worked successfully since 1998, has ceased operation, informs its official website.

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The message states that the team of the eponymous web studio will continue to develop sites with integration with “1C” [a popular Russian business accounting system] and provide hosting services for websites.

“Thank you for reading us all these years. During the time of our news section we have published more than 35,500 news articles,” they address the users.

There message does not provide any information as to the reasons of operation termination, however, according to some media representatives, it is due to the fact that “Penza-Online” management attempted to reduce costs and focus on the core activities.

The decision to close the news website might have been caused by reduction of income from media field, saturation of the Internet information market, and increasing competition.

Some media representatives attributed the gradual decline of “Penza-Online” to the departure of Alexei Borisov from the post of editor-in-chief in 2013, who had worked there since 2000.