Monday, December 21, 2009

Flogging the family silver

The Independent's Stephen Glover no doubt gets his own back on the specualtion about his own paper by taking a look at the rumours concerning the Guardian from last week.

The Guardian may now be housed in fancy offices near Kings Cross, complete with their own theatre, but its spiritual home is Manchester.
he says

For him the significance is

all the greater if The Daily Telegraph, which broke the story, is correct in suggesting that the Manchester title might fetch less than £40m, though it was supposedly worth £200m several years ago
and adds that

GMG’s apparent willingness to flog off what was once thought of as the family silver suggests its management has woken up to the weakness of its position. Here is a company which by its own (possibly unwise) recent admission is losing £100,000 a day on The Guardian and The Observer, which we might round up to £40m a year. In such circumstances it has to consider selling anything

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