Simple Code to Edit Text File

<?php
$fn = "news.txt";
if (isset($_POST['content']))
{
    $content = stripslashes($_POST['content']);
    $fp = fopen($fn,"w") or die ("Error opening file in write mode!");
    fputs($fp,$content);
    fclose($fp) or die ("Error closing file!");
}
?>
<center>
<form action="<?php echo $_SERVER["PHP_SELF"] ?>" method="post">
    <textarea rows="25" cols="40" name="content"><?php readfile($fn); ?></textarea><br /><br />
    <input type="submit" value="Submit"> 
</form>
</center>