"The Guardian and The Observer lost £26.8 million before various one-off write-offs in the year to March 2008. The recession means that the figure will be worse this year. ... All this has been historically propped up by other businesses, but profits at GMG's regional newspapers have collapsed by 85 per cent to less than £2 million ... Radio, always marginally profitable, is hardly faring any better. ... [and] whatever profit comes out of Auto Trader and Emap will not flow into GMG's coffers, because of the debt repayments, which does not help when the national newspapers burn through £83,000 or so a day." Read More...