Times Online: A little war and Peace in The Guardian boardroom
Wednesday, 8 April 2009, 12:09
"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."
