National Egyptian Movement to launch newspapers

The National Egyptian Movement will release newspapers The National Egyptian Movement has established the National Movement Press House, a journalism publishing house initially estimated to pull in £100 million Egyptian pounds. The Press House will publish three new newspapers: al-Ahram al-Gedida, Akhbar el-yom Algadida and al-Gmahwria Algadida. Initially the publications will be run by nominated editors-in-chief.
Journalist Mahmoud Nafady, leader of the movement, said that the estimated profits will be divided equally between shareholders. Shares will be offered in return for subscription at £10 Egyptian pounds per share.
"This way people will own and participate in managing these newspapers, which will represent them after they have lost confidence in the current national newspapers," Nafady said.