Wednesday, October 17, 2012

The Guardian Needs an Angel

LONDON, ENGLAND - NOVEMBER 16:  Alan Rusbridge...
 (Image credit: Getty Images via @daylife)
The U.K. daily, The Guardian, may soon be an online publication only, according to an article by rival The Telegraph.

As The Guardian faces annual losses of 44 million pounds ($71,145,553) and its parent company, Guardian Media Group ("GMG") contends with its own operating losses of 129 million pounds ($208,548,734), an internal battle over the direction of the publication is being waged, the Telegraph article reports.  Guardian Editor Alan Rusbridger apparently wants to delay ending the print edition until its online version is further developed, while GMG owner, the Scott Trust, according to the More About Advertising Web site, wants to speed the process along to stanch the flow of cash to sustain the print edition.

GMG's holdings include The Guardian, Top Right Group and Trader Media Group. The company has been stymied by employees being slow to accept voluntary buyouts as it attempts to reduce the 650-member editorial workforce by as many as 100 positions.
Enhanced by Zemanta

No comments:

Post a Comment