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Ian Burrell

Ian Burrell edits the Media Weekly pages of The Independent.

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Daily Mail haemorrhaging money

Posted by Ian Burrell
  • Thursday, 21 May 2009 at 09:24 am
Those who abhor the Daily Mail's peculiar view of the world and who like to characterise it is as the 'Daily Hate' will no doubt be smiling at news of a staggering fall in profits at its parent company the Daily Mail & General Trust.

But within the media, DGMT has long been regarded as one of the most efficiently run of British news organisations and these results showing profits down by 47 per cent are a shocking indication of the parlous condition of Britain's commercial media.

DMGT has major problems with its large stake in crumbling regional media, where profits are down even further (85 per cent) but there are other theories for the company's demise. Martin McNulty, director of online marketing agency Trafficbroker, points to one particular predator: "While the grim economic climate is certainly playing a role in DMGT's collapse in profits, a much more fundamental threat comes from Google, to which it is haemorrhaging ad revenue."

Comments

Glasshouses, stones.
ron_broxted wrote:
Thursday, 21 May 2009 at 09:26 am (UTC)
Yes,The Independent is incredibly healthy fiscally isn't it?
Re: Glasshouses, stones.
iburrell wrote:
Thursday, 21 May 2009 at 10:30 am (UTC)
That's the point, Ron. If an organisation like DMGT, which has traditionally been astutely run and has also been able to invest heavily online, is in such such difficulty, then the whole industry is in a lot of trouble.
It wasn't meant to be a stone-throwing post.
Re: Glasshouses, stones.
ron_broxted wrote:
Thursday, 21 May 2009 at 10:38 am (UTC)
Take comfort in the fact that the Indy is a better paper. The D.Ms most intelligent comment comes from Fred Bassett!
Lord Rothermere (Chairman)
chrisasmith wrote:
Saturday, 23 May 2009 at 10:13 am (UTC)
According to Private Eye, he is non-domiciled in the UK for tax purposes, although he lives in regal splendour in 200+ acres of Wiltshire. The head of HMRC has declared him off limits for investigation.

Why hasn't the mainstream media followed up on this story ?
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