The chief executive of Reach, which also owns scores of regional titles including the Manchester Evening News, the Birmingham Mail and the Liverpool Echo, also maintained that the publisher had "significant resources" despite cutting almost 800 roles in the biggest annual cull of jobs in the newspaper industry in decades.
Jim Mullen, who has run Reach since 2019, told staff they had to face the fact its traditional print operations had declined by 17% annually over the past four years. "Our biggest revenue stream is newsprint and the papers," said Mullen, in an internal video meeting with staff. "When I started I said there is at least 10 years of profitable business in newspapers and probably more. I have been in the business for five years so half of that is gone. There is probably five to seven years that we can look at. We have to face into this inconvenient truth."
Diese Geschichte stammt aus der January 23, 2024-Ausgabe von The Guardian.
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Diese Geschichte stammt aus der January 23, 2024-Ausgabe von The Guardian.
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