The Other McCain

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Guardian Losing $50 Million a Year?

Posted on | December 1, 2013 | 37 Comments

These numbers are mind-boggling:

Guardian News & Media has lost nearly £200m in the past six years as it pursues its ambition of being the “world’s leading liberal voice”.
GMG already enjoys advantages over some of its commercial media rivals. Ownership by the Scott Trust means it does not have to answer to shareholders. The group has a cash and investment fund of £254m. Those other assets such as its 50 per cent stake in Trader Media Group and a 33 per cent share in Top Right are security for the loss-making news business. . . .
Two years ago, as he committed GMG to a “digital-first strategy”, Mr Miller warned staff the newspaper’s losses were so great it could run out of money in “three to five years”. The latest losses of £31m for the year to the end of March were an improvement on the £44m of the previous 12 months and he took succour from a 28.9 per cent rise in digital revenues.

Converting pounds to dollars (£1 = $1.64), you find £200 million equals about $325 million. Divide that by six and you find that they’re losing money at a rate in excess of $50 million a year. The £31 million the Guardian group lost in the most recent year is more than $50 million. The £44 million they lost in the previous year was $72 million.

Seventy-two million dollars in losses in a single year!

This is not a business strategy. It’s insanity.

 

Category: Journalism

Comments

37 Responses to “Guardian Losing $50 Million a Year?”

  1. MrEvilMatt
    December 1st, 2013 @ 8:42 pm

    Guardian Losing $50 Million a Year?: These numbers are mind-boggling: Guardian News & Media has lost nearly £2… http://t.co/5hn51EeTMk

  2. CHideout
    December 1st, 2013 @ 8:42 pm

    Guardian Losing $50 Million a Year?: These numbers are mind-boggling: Guardian News & Media has lost nearly £2… http://t.co/dtfpaaqohJ

  3. jwbrown1969
    December 1st, 2013 @ 8:42 pm

    Guardian Losing $50 Million a Year?: These numbers are mind-boggling: Guardian News & Media has lost nearly £2… http://t.co/fXnHQDZwod

  4. Lockestep1776
    December 1st, 2013 @ 8:42 pm

    Guardian Losing $50 Million a Year?: These numbers are mind-boggling: Guardian News & Media has lost nearly £2… http://t.co/wEqPIhnzlE

  5. Resista38176897
    December 1st, 2013 @ 8:42 pm

    Guardian Losing $50 Million a Year?: These numbers are mind-boggling: Guardian News & Media has lost nearly £2… http://t.co/sUBHQadckE

  6. Citzcom
    December 1st, 2013 @ 8:42 pm

    Guardian Losing $50 Million a Year?: These numbers are mind-boggling: Guardian News & Media has lost nearly £2… http://t.co/pMglNL2JRa

  7. kjcopp
    December 1st, 2013 @ 8:44 pm

    Stunning! MT @commonpatriot: via @rsmccain: Guardian Losing $50 Million a Year? http://t.co/7E5lCWTUUN #tcot”

  8. AmPowerBlog
    December 1st, 2013 @ 8:44 pm

    RT @smitty_one_each: TOM Guardian Losing $50 Million a Year? http://t.co/lDJoYntZeu #TCOT

  9. rsmccain
    December 1st, 2013 @ 8:45 pm

    Guardian Losing $50 Million a Year? http://t.co/VVRgucoDhT cc @RaheemJKassam @ali @instapundit

  10. Stephen Michael Kellat
    December 1st, 2013 @ 8:49 pm

    If I had only a tiny fraction of that money they are losing I could boost my local park district’s total tax budget of only $17,000 and keep it from going insolvent anywhere in the next 18-24 months.

    Perhaps Mr. Greenwald jumped ship because he knew about the state of the paper’s finances?

  11. exposeliberals
    December 1st, 2013 @ 8:52 pm

    RT @rsmccain: Guardian Losing $50 Million a Year? http://t.co/VVRgucoDhT cc @RaheemJKassam @ali @instapundit

  12. BobBelvedere
    December 1st, 2013 @ 8:58 pm

    RT @rsmccain: Guardian Losing $50 Million a Year? http://t.co/djbwmz0BnV | Dialectical Bookkeeping.

  13. Guardian Losing $50 Million a Year? | Dead Citizen's Rights Society
    December 1st, 2013 @ 9:14 pm

    […] Read the rest … […]

  14. Steve Skubinna
    December 1st, 2013 @ 9:19 pm

    This is not a business strategy.
    It is if you’re a socialist. So long as the workers control the means of production eventual victory is assured, comrade!

  15. Steve Skubinna
    December 1st, 2013 @ 9:20 pm

    Maybe that was in Snowden’s haul.

  16. AmPowerBlog
    December 1st, 2013 @ 9:37 pm

    Guardian Losing $50 Million a Year? http://t.co/WQZ6XWqOPK Via @RSMcCain cc. @LouiseMensch

  17. Matthew W
    December 1st, 2013 @ 9:41 pm

    Just proves the fact that Liberalism isn’t a business model and can’t make a profit off of it.

  18. WarEagle82
    December 1st, 2013 @ 9:51 pm

    The problem with socialism is that you eventually run out of other people’s money.

    “Progressivism” is a mental deficiency so why would we expect anything less from them.

    The good news is that the Koch Brothers can pick up a bunch of cheap media outlets in the next few years at fire sale prices…

  19. NoFixedAddress
    December 1st, 2013 @ 9:56 pm

    I think it fantastic that the prime backers of the traitor scum Snowden will go down.
    Unfortunately it will not happen soon enough.

  20. gmardre
    December 1st, 2013 @ 9:56 pm

    “Guardian Losing $50 Million a Year?” http://t.co/mS5jZUKrJ1

  21. Evi L. Bloggerlady
    December 1st, 2013 @ 10:09 pm

    Greenwald is a slimey coconut butter lathered Brazilian nut.

  22. Evi L. Bloggerlady
    December 1st, 2013 @ 10:10 pm

    These are numbers that would embarrass Tina Brown.

    And get her flushed and excited.

  23. Kerry Dar-Du
    December 1st, 2013 @ 10:42 pm

    Kerry Dar-Du liked this on Facebook.

  24. Wintery_Knight
    December 1st, 2013 @ 11:58 pm

    Leading leftist newspaper UK Guardian Losing $50 Million a Year? http://t.co/JKcgVKEQQu via @rsmccain

  25. LouiseMensch
    December 2nd, 2013 @ 8:22 am

    RT @AmPowerBlog: Guardian Losing $50 Million a Year? http://t.co/WQZ6XWqOPK Via @RSMcCain cc. @LouiseMensch

  26. SmellyFingers
    December 2nd, 2013 @ 8:41 am

    Left wing rag, lmao!

  27. Quartermaster
    December 2nd, 2013 @ 8:42 am

    Liberalism is a mental illness and the libtard media outlets are run by insane people. That they are sinking financially should be no surprise to anyone.

  28. richard mcenroe
    December 2nd, 2013 @ 8:47 am

    This “Scott Trust” is one of many such institutions that keep the left in business. Their biggest and most successful scam has been infiltrating and and perverting family charities, trusts and other non-profit organizations and looting them. The Ford Foundation is a perfect example.

    The left could never survive on the support of its actual donors. They feed off the wealth of the capitalists they scorn and of course they don’t care if they lose money. It was never theirs to begin with.

  29. richard mcenroe
    December 2nd, 2013 @ 8:49 am

    Why would they want to? Nobody reads those papers, and if it wasn’t for trapped audiences in airports, old folks’ homes and restaurants lefty nets like CNN and MSNBC would have no audience at all.

  30. Dare to Dream, People: What if there were no Hillary Clinton? | Regular Right Guy
    December 2nd, 2013 @ 5:01 pm

    […] not yet. But with the country world in the biggest shift to the right in decades, is it any wonder liberal rags have been hemorrhaging readers for 10 […]

  31. cigpapers
    December 3rd, 2013 @ 2:38 pm

    Big business has always controlled the “left” a way of keeping the workers down.

  32. BadboyBNP
    December 3rd, 2013 @ 2:39 pm

    Guardian losing £33million per year and is underwritten by big business http://t.co/IzyNWA3rfr

  33. Ubername95
    December 3rd, 2013 @ 2:40 pm

    RT @BadboyBNP: Guardian losing £33million per year and is underwritten by big business http://t.co/IzyNWA3rfr

  34. St_Helens_BNP
    December 3rd, 2013 @ 2:50 pm

    RT @BadboyBNP: Guardian losing £33million per year and is underwritten by big business http://t.co/IzyNWA3rfr

  35. Anarchy in the UK: Guardian Editor Admits Endangering British Agents : The Other McCain
    December 3rd, 2013 @ 6:08 pm

    […] on the bright side, Louise: The Guardian‘s losing $50 million a year, so maybe they’ll go bankrupt in the […]

  36. wuuren
    December 5th, 2013 @ 8:16 am

    http://tinyurl.com/kftjzvx

    V

  37. FMJRA 2.0: Drivin’ : The Other McCain
    December 7th, 2013 @ 11:55 pm

    […] Guardian Losing $50 Million a Year? […]