DEATHWATCH: Guardian publisher loses £31million

16 July 2013

Guardian The publisher of The Guardian - Guardian Media Group - has reported losses of £30.9m. They reported an operating loss of £54.8m also. While both these figures are alarming for the company, both these figures are actually down from previous losses.

However, the group is still struggling to make money as people move to digital and away from trad. arr. press. They have to trim £25m in costs by 2016 and have already shed 60 editorial jobs, which is pretty bleak.

While digital revenue is up, sales of iPhone app subscriptions were down 36%, to around 57,000.

"GMG has made good strategic, operational and financial progress over the last 12 months, giving us increased confidence that we are heading positively and confidently in the right direction," said Guardian Media Group chairman Dame Amelia Fawcett. "Most striking and encouraging has been the continued strong growth in digital revenues, which exceeded the decline in print."

Is the Guardian being too cocksure? Is it going to die? Would you even vaguely miss it if it went under?


TOPICS:   High Street News   TV


  • badger
    If it went under, newsagents in Hoxton, Fulham and Brighton would be blubbing into their Fairtrade lattes. The rest of us will get on with life.
  • Euan
    They can afford to haemorrhage money for a while yet, as they own slightly over half of Autotrader which is decently profitable.
  • Yog S.
    I'd worry if the Guardian went under. It's the only real newspaper out there.
  • Euan
    Apart from the Independent, Times and Telegraph (and in terms of investigative journalism, it's hard to fault the Telegraph's expose of MP's expenses) presumably?
  • Polly T.
    Of course, GMG isn't paying corporation tax because it's making a loss. But GMG's loss is a real loss unlike the imaginary loss that Starbucks et al makes, honest!
  • Tom
    I'd miss it, it might be a bit smug but it's the best lefty paper. their web content is really good too.
  • zeddy
    @Tom: " the best lefty paper" Have you tried the Daily Oxymoron instead?
  • Multicultural p.
    Last Saturday, as I was weeding my organic foxglove bed, it struck me! Isn't it amazing that we can find £30bn to spend on Trident but we can't afford even basic woodwind lessons for all Primary school pupils? But that's just what we get when we continue to measure economic growth through GDP rather than focusing on freedom of expression and sustainability.
  • Cyril B.
    @Multi.... Well, you've exercised your freedom to express yourself and your foxglove bed is undoubtedly sustainable so the economy must be doing fine. What's your gripe?
  • Phuck Y.
    £25m in costs? Fucking hell. They only way to trim £25m in costs is to stop fucking printing and paying anyone, whilst charging 50p for thin air! Fucking twats!
  • _Me_
    AS the Grauniad have found, people aren't actually interested in real news, they're only interested in tittle tattle, reality TV stars and utter lies and bullshit.

What do you think?

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