Telegraph Media Group (TMG) is in the early stages of seeking a new owner after banks took over control of the company from the Barclay family in June.
Potential bidders are now eyeing the company's accounts, with the chief executive, Nick Hugh, insisting the underlying business is in strong shape and will soon meet his longstanding target of having a million paying subscribers by the end of 2023.
Accounts released today suggest TMG has had to work hard to hit Hugh's target. The newspaper group added only 14,000 new subscribers in 2022, leaving the company stuck on 734,000 customers at the end of last year. This was substantially short of the chief executive's benchmark and gave him only 12 months to make up the difference.
This story is from the July 25, 2023 edition of The Guardian.
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This story is from the July 25, 2023 edition of The Guardian.
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