Iconic Liberal UK News Group Continues To Hemorrhage Cash

[rangerrebew]

Daily Caller News Foundation
Iconic Liberal UK News Group Continues To Hemorrhage Cash
Photo of Michael Bastasch
Michael Bastasch
12:10 PM 07/27/2016
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Screenshot of the Guardian   Screenshot of the Guardian's homepage taken 7/27/2016

The Guardian Media Group (GMG) lost nearly $227 million in the last financial year and is losing some of its most high-profile reporters as company executives desperately try to right a sinking ship.

The UK-based media group that runs The Observer and The Guardian — which is known for its liberal bent on issues ranging from global warming to immigration — has had a tough financial year, suffering pre-tax losses of more than $90 million compared to a mere $19 million loss last year.

Read more: http://dailycaller.com/2016/07/27/iconic-liberal-uk-news-group-continues-to-hemorrhage-cash/#ixzz4Fyp9R4Wy

[geronl]

I am sure we are all broken up about it. 

[EC]

I'm actually a little sad. The Guardian has some of the best investigative reporters in the world, and they are honest enough to follow a story fully, no matter where it leads. They're real reporters, not journalists or Glendas.

[rangerrebew]

Are you saying the management is the problem and if they allowed the reporters to do what they see as right, the problem could resolve itself?

[EC]

Partially, yes. The management are floundering and haven't a clue.

The big part, of course, is the simple death of print media as a viable news source now. Almost all our papers are suffering that, with the exception of the Sun (the builders choice!) but the Guardian group doesn't really have any strings to their bow to offset the print losses.

Edit to add: The reporters are also part of the problem. Good investigative reporting is not cheap.

[rangerrebew]

Thanks for the clarification.

Unfortunately the cost of the reporters ties in with the cost of freedom; it isn't cheap.

[geronl]

I'm actually a little sad. The Guardian has some of the best investigative reporters in the world, and they are honest enough to follow a story fully, no matter where it leads. They're real reporters, not journalists or Glendas.

Then those reporters could find work elsewhere.