FactWire becomes latest Hong Kong news site to close down

Hong Kong-based news agency FactWire announced its closure on Friday, ceasing all operations and laying off all of its staff.

The media firm said the media industry has contended with great change in recent years, with the firm having often wrestled with the difficult decision of whether to continue its journalistic work.

“We had always come to the same affirmative conclusion: to stand fast to our core values and beliefs, and to always report the facts…But to everything there is a season, and a time to every purpose. It has, at last, come time to end our journey,” a statement from FactWire read.

It said for the past six years, the firm has done its best to keep the publicly funded investigative news agency afloat in Hong Kong, whilst adhering to the highest standards of journalistic integrity.

“Through the ups and downs, we have always kept our mission – and our principles – near and dear to our hearts.”

“We were bold. We encountered obstacles. We overcame them. Once or twice, we lost our way. But every step we took, we took in the hope of honestly earning the trust of our readers. We hope we did.” The statement wrote.

The firm also thanked its readers' continual and generous support for enabling it to navigate through its dire financial straits, having been downsized to just two employees at one point.