Posted on 10/17/2012 5:11:57 PM PDT by bruinbirdman
The publisher of the Guardian and Observer newspapers is close to axing the print editions of the newspapers, despite the hopes of its editor-in-chief Alan Rusbridger to keep them running for several years.
Senior figures at Guardian News & Media are seriously discussing the move to an entirely online operation, it has been claimed, leaving Mr Rusbridger increasingly isolated.
The longstanding Guardian chief wants to develop the Guardian’s digital-only US operation before pulling the plug on the print edition, in the hope that it will provide a useful blueprint for the online business in Britain.
However, trustees of the Scott Trust, GNM’s ultimate owner, fear it does not have enough cash on its books to sustain the newspapers for that long, according to More About Advertising, the website run by former Marketing Week editor Stephen Foster.
The Guardian publisher has spent the last few years battling to stem losses of £44m a year. However, it has been slow to make savings and any money that it has clawed back has been spent on expanding its US and online operations.
The investments helped to fuel a 16pc increase in digital revenues to £45.7m last year, but this was not enough to balance GNM’s operating losses which widened from £31.1m.
Guardian Media Group, GNM's parent company which also owns stakes in Autotrader's publisher, Trader Media Group, and Top Right Group, the magazine and events company formerly known as Emap, fared even worse. Its operating losses more than doubled to £129.1m.
Meanwhile, the company has been forced to steadily shrink the Guardian newspaper, getting rid of some of its flagship supplements. GNM has also pledged to axe up to 100 of its 650 editorial staff, but has struggled to find enough people willing to volunteer for its pay-off
(Excerpt) Read more at telegraph.co.uk ...
Couldn’t happen to a better (sarc) paper.
Shouldn’t this be under the “Who could care less” category?
Or perhaps, “That’s not a surprise” heading?
Is that discussing their US print edition?
They have one? lol
Now, if they would just delete their online version as well, everything would be perfect.
great news
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