Media News - Wednesday, July 18, 2012
The Guardian and the Observer lost £44.2m last year as investment in digital publishing – including iPad, Facebook and Android apps – which contributed to an increase of losses at the national newspapers that could not be offset by double-digit growth in digital revenues. The newspapers will aim to save £7m from editorial expenditure in order to help reduce the deficit, while the publisher will seek between 70 and 100 journalist redundancies from a workforce of about 650 via a reopened voluntary programme. "We will do less, less of what's called commodity journalism, so that we can do more on our core purpose and the type of journalism that we're here to do" - Alan Rusbridger, editor-in-chief of the titles said. (The Guardian)
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