By paulgillin | August 2, 2009 - 5:05 pm - Posted in Business News, NewMedia

Guardian News and Media is said to be mulling the possibility of closing the Observer, which is the world’s oldest Sunday newspaper. Staffers at the 218-year-old companion to The Guardian daily recently discovered a secret mockup of a weekly news magazine bearing the Observer’s name. Last Friday, the parent company reported that Guardian News and Media lost £36.8 million ($60.8 million) compared with a loss of £26.4 million ($44 million) the previous year. Closure or downsizing of The Observer would be undertaken to shore up the finances of the daily. The Financial Times report stresses that no decision has reached, only that closure is one option on the table.

Comments

comments

This entry was posted on Sunday, August 2nd, 2009 at 5:05 pm and is filed under Business News, NewMedia. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

1 Comment

  1. August 13, 2009 @ 8:26 pm



    […] to report for a newspaper even if they wanted to when they grow up — you know, with slow, painful death of newspapers. For that matter, such a chance may not exist for me, […]