Heavy Losses At The GuardianPosted: February 2, 2017
“It just goes to show that fake news does not pay.”
By Paul Homewood
It just goes to show that fake news does not pay.
From the Telegraph:
The Guardian has warned staff to expect further heavy losses, as the newspaper said it expects to burn through another £90m in cash this year.
It has recorded negative cash flow of £60m so far in the current financial year and is on track for another £30m by April, executives told a meeting at its King’s Cross headquarters.
The outflow so far is roughly equivalent to last year, when Guardian Media Group, the publisher of the Guardian and the Observer, went on to report a loss before tax and exceptional items of £68.7m. After tax and one-off charges, the company’s losses topped £200m.
View original post 72 more words