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by p01926
3773 days ago
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You can almost hear the Guardian's business leader writers rubbing their hands at the prospect. Which is as shameful and shortsighted as it is atypical for the Guardian. I would guess the team behind this article are acutely aware of the rate their owners are burning through cash and are anticipating massive layoffs soon. Perhaps they're looking for a lifeboat with the Apple-despising Financial Times? |
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The Scott Trust, which owns the Guardian Media Group had about 1.1 billion pounds net assets, of which the vast majority are liquid, as of end of March 2015 (after they've over the last few years sold of shares in various regional newspapers and AutoTrader, shoring up their balance sheet massively).
The sole purpose of The Scott Trust is to secure The Guardian in perpetuity.
There may be layoffs at some point. There may not be. But losing money for years on end is in itself not a problem for The Guardian. They'll want to at some point trim the loss down a bit to not eat to much into the capital, but at current rates then have quite literally decades of runway.