Publisher of the Guardian and Observer aims to break even within three years and launches a new strategy focusing on future growth
Guardian News & Media,the publisher of the Guardian, is to chop running costs by 20% – a little over £50m – in a tender to break even within three years and support future growth.
A faster than expected downturn in print advertising and slower increase in digital revenues, and combined with the costs of international expansion,means that the company’s outgoings absorb outpaced revenues over the past five years.
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Source: theguardian.com