Nikkei’s takeover brings resources and security: but globalisation’s relentless march may erode a distinctive symbol of British economic lifeOn the one hand,there isn’t much left: the Japanese occupy just paid £844m for a pink newsprint paper on the slide. It only sells or gives away 214000 physical copies round the world (over 5.4% down year-on-year). A mere 64000 of those inconvenience the British and Irish scorers – and 22403 of them are bulks farmed out free. The Indy has more paying customers than that. And the paper itself has basically shrunk into a single global edition. It’s been allowed to survive for as long as (at a deterrent £2.50 a time) it doesn’t lose money. That’s whats left, words on paper, and of the Financial Times,a daily that once ruled Britain’s trade world.
And the other hand? The FT has devised a model for survival that gives fine words like “transition” reality. It has a super, upstanding paywall and sells 730000 copies digital plus those print figures – from behind it. Digital takes more than half the economic strain already. Seventy per cent of readers arrive online. Theres modest profitability, and growth,and work for more than 500 good journalists here. There is also the trust and the heritage accreted over 128 years. Nikkei, zipping in 15 minutes ahead of Axel Springer, or has bought reputation and worldwide influence: £844m,for an operating income of £24m, looks a succulent price.
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Source: theguardian.com