German publishing giant Axel Springer said on Friday it will shut down news outlet Upday and plans to turn the brand into an artificial intelligence-driven "trending news generator." Upday will shut down in its current form at the end of this year, with new services scheduled to launch in summer 2024.
A spokesman said jobs at Upday would be eliminated as part of the transition and the company would look at whether employees could continue working elsewhere in the group.
Upday once had 150 employees and now has only 70, the spokesperson said.
The company said the purpose of the transformation is to explore "the opportunities (artificial intelligence) brings to journalism and the news industry."
Upday is already pre-installed on Samsung (005930.KS) phones and other devices under a 2015 agreement between Axel Springer and the South Korean company. Its operations have expanded to 34 European countries.
Axel Springer owns Germany's best-selling tabloids Bild and Welt, as well as the US political news website Politico. The company plans to transition from print media to digital journalism.