Skip to content

Heavy Losses At The Guardian

February 2, 2017

By Paul Homewood

 

image

 

It just goes to show that fake news does not pay.

From the Telegraph:

 

The Guardian has warned staff to expect further heavy losses, as the newspaper said it expects to burn through another £90m in cash this year.

It has recorded negative cash flow of £60m so far in the current financial year and is on track for another £30m by April, executives told a meeting at its King’s Cross headquarters.

The outflow so far is roughly equivalent to last year, when Guardian Media Group, the publisher of the Guardian and the Observer, went on to report a loss before tax and exceptional items of £68.7m. After tax and one-off charges, the company’s losses topped £200m.

The Guardian is seeking to sharply cut its costs by laying off staff, reducing the size of its office and scaling back its overseas ambitions. The cuts have not yet staunched the flow of red ink, however.

Its losses are funded by the Scott Trust, a charitable trust set up to secure the future of the Guardian. The cash reserve was depleted by £95m last year to leave a reserve of £743m. The further negative cash flow this year is likely to erode the endowment again.

http://www.telegraph.co.uk/business/2017/02/01/heavy-losses-feared-guardian-forecasts-will-burn-90m-cash-year/?

 

Times are so hard that management is even considering closing the lentil bar!

Advertisements
55 Comments
  1. John Palmer permalink
    February 2, 2017 12:11 pm

    At least closing the lentil bar could improve the atmosphere!😂

  2. Ian Magness permalink
    February 2, 2017 12:15 pm

    Oh dear
    How sad
    Never mind
    The Indie down next!

    • February 2, 2017 5:47 pm

      But sadly the BBC continues to survive on its sinecure from the tax payer.

  3. Peter Stokes permalink
    February 2, 2017 12:24 pm

    One of the biggest purveyors of ‘false news’ may find itself digging even deeper into its cash endowment if the current interest in false news exposes what the G has been up to in so many areas, not only climate change. Most of us stay in business because we make and/or sell something the world wants, but not it seems the G, who can carry on dishing out their own elite liberal socialist nonsense. But like all socialists they will eventually run out of other people’s money!

  4. February 2, 2017 12:35 pm

    Reblogged this on Climatism and commented:
    “It just goes to show that fake news does not pay.”

    Exactly.

  5. merlin GEIKIE permalink
    February 2, 2017 12:45 pm

    The Guardian was a load of bollocks anyway.

  6. February 2, 2017 12:51 pm

    “The Guardian is seeking to sharply cut its costs by laying off staff”
    One possible candidate?
    https://www.theguardian.com/profile/john-abraham

    • 1saveenergy permalink
      February 2, 2017 6:17 pm

      They still have 6 years of cash to waste.

  7. BLACK PEARL permalink
    February 2, 2017 12:52 pm

    Where will the BBC recruit their staff from if it goes belly up ?

    • Athelstan permalink
      February 2, 2017 1:28 pm

      Moreover, where will al beeb derive most of its ‘news’ content if and hopefully very soon at that, the guardian goes belly up?

    • Rowland H permalink
      February 2, 2017 1:30 pm

      Or the Councils or any public service requiring staff to sit on their backsides all day with pointless job titles!

    • February 2, 2017 1:55 pm

      Sometimes the BBC holds its nose and employs people from the other side, such as the new editor of R4 Today, she endured an inquisition yesterday on R4 about being right-wing, sounded to me like the new editor was already “going native”:

      https://www.theguardian.com/media/2017/jan/30/sarah-sands-named-editor-bbc-radio-4-today-programme-evening-standard

      The BBC ensures strict even-handedness on its politics programmes, but elsewhere it is wall-to-wall anti-Brexit/Trump/Tories/UKIP/Austerity/Fracking and pro-EU/Migration/Public Sector/Human Rights of Foreigners/Green Anything.

  8. AlecM permalink
    February 2, 2017 12:59 pm

    It couldn’t happen to a better snoozepaper.

  9. Gerry, England permalink
    February 2, 2017 1:42 pm

    Great news to brighten the day. Watched Myron Ebell at the GWPF last night. What a brilliant man. Snuffed out Harrabin amongst others with ease.

    • Jackington permalink
      February 2, 2017 2:38 pm

      Why was Harrabin there? Are the BBC intending to report what a skeptical non – scientist has to say? I think not.

      • Gerry, England permalink
        February 2, 2017 9:29 pm

        I think they are in an alternative world where Clinton won so nothing has changed. They just can’t grasp they lost.

    • John Palmer permalink
      February 2, 2017 2:47 pm

      I would urge anyone who has not so far watched the video to do so immediately. Mr Ebell was a calm, surgeon’s knife of a debater in the latter 40 minutes or so when faced with Comrade H and his fellow-travellers. This is definitely a man you’d want ‘inside-the-tent’!
      A ‘must-view’!

  10. February 2, 2017 1:51 pm

    Why does the Telegraph headline include the word “feared”? Who fears the losses since we know they have been happening for years? To use the politically correct terminology, the Grauniad is unsustainable.

    • wert permalink
      February 2, 2017 6:31 pm

      Hoped. Promising losses.

  11. Bloke down the pub permalink
    February 2, 2017 2:01 pm

    Their charitable trust must be very grateful that the stock market has been doing so well post Brexit, so that their investments are showing good returns. Unless of course they believed the Gruaniad’s predictions and moved the investments overseas.

  12. TinyCO2 permalink
    February 2, 2017 2:07 pm

    I wonder if they lost money ditching their fossil fuel investments at the wrong moment too?

    • Athelstan permalink
      February 2, 2017 2:12 pm

      how pleasing would that be?

  13. tom0mason permalink
    February 2, 2017 2:28 pm

    Oh no, not the Guardian, where will the sheeple read their virtual reality news now?
    Will the Bullsh*t Broadcasting Collective ‘cut-back’ on Messrs Black and Harrabin next?

    Is the anti-scientific Sheeple News Collective endangered?

    I live in hope.

  14. February 2, 2017 2:36 pm

    A lousy ‘leftie’ rag. Won’t be missed by anyone other than luvvy/lefty/bbc clowns.

  15. Jackington permalink
    February 2, 2017 2:40 pm

    I only take the Gruaniad when it’s free from Waitrose but should stop this because it makes me ill.

  16. Broadlands permalink
    February 2, 2017 2:52 pm

    Is it cynical to ask…Don’t they realize that burning cash adds oxidized carbon to the atmosphere? They should capture that cash and store it under a mattress?

  17. Ex-expat Colin permalink
    February 2, 2017 3:01 pm

    Guardian got themselves into publishing an EU leaker. UKIP finances…again:

    https://rogerhelmermep.wordpress.com/2017/02/02/black-propaganda/

    Nothing to do with Paul Nuttalls election fight…course not!

    • February 2, 2017 3:11 pm

      Channel 4 news yesterday evening was full on into investigating Paul Nuttall’s address in Stoke for the forthcoming bi-election. The leftie media hate the thought of a UKIP victory and will say and do anything to try and stop it.

  18. Bitter&twisted permalink
    February 2, 2017 3:24 pm

    Maybe the “The Gruanard” should rename itself “Trustafarian Times”, or “The Metropolitan Elite”.

    Might have more success in its niche market.

    • wert permalink
      February 2, 2017 6:34 pm

      BBC staffers are not a niche market unless you manage to defund it.

  19. February 2, 2017 3:47 pm

    I can’t help thinking that having a “King’s Cross Headquarters” won’t be doing the balance sheet any favours.
    My advice would be if you rent it, move; if you own it, move and flog it.

  20. Max Sawyer permalink
    February 2, 2017 4:14 pm

    “Negative cash flow” – wasn’t there a simpler term for this at one time?

    • John birch permalink
      February 5, 2017 7:21 am

      There was simple words for many things in day gone by

  21. February 2, 2017 4:22 pm

    We need to take it back, we shouldn’t have let it be hijacked from the inside by dogmatic Libmob. The trustees left it for the whole public not just a clique.
    Same for BBC and COOP and other charities.
    I do wonder if ultimately the infiltrators/infiltraitors serve Russian interests.

    • February 2, 2017 4:29 pm

      The real truth, is that the Guardian and BBC undercut any potential profitable left of centre papers with the result Britain gets these morons. (And I suppose by extension we get the current labour party).

      Or to turn it around if the Guardian didn’t exist, they’d be a profitable left of centre paper which people on the right would grudgingly admit was making some good points.

  22. John F. Hultquist permalink
    February 2, 2017 4:36 pm

    “Scott Trust, a charitable trust”

    … central objective as being the following:

    “To secure the financial and editorial independence of The Guardian in perpetuity: as a quality national newspaper without party affiliation; remaining faithful to its liberal tradition; as a profit-seeking enterprise managed in an efficient and cost-effective manner.”

    Well done, folks!

    • tom0mason permalink
      February 3, 2017 3:17 am

      The Scott Trust was a charitable trust that owned the from 1936 Guardian until 2008. For no publicized reason the trust was wound-up and its assets transferred to a new limited company named The Scott Trust Limited, thus this private limited liability company took over the Guardians ownership.

      From https://en.wikipedia.org/wiki/Scott_Trust_Limited

      “The Scott Trust Limited is the British company that owns Guardian Media Group and thus The Guardian and The Observer as well as various other media businesses in the UK. ”

      Note the Scott Trust Limited is not a charity but a company, Guardian News and Media is just a subsidiary, the majority of it’s accounts appear to be held off-shore, no doubt and in all probability to hide the true costs/profits and save on tax.

      A large part of its output appears to be nothing but vanity publishing by the news composter Rusbrdger and his friends, who also appear to take turns at being chairperson of Scott Trust Limited. Nothing with this paper, or the company that owns it, is open or accountable as it seems.

  23. golf charlie permalink
    February 2, 2017 4:36 pm

    When it comes to wasting other people’s money on stuff they know nothing about, their Climate Science experts have set a wonderful example, that should keep Insolvency Practicioners employed for years to come.

  24. Ian L. McQueen permalink
    February 2, 2017 5:30 pm

    A Canadian view is that the staff members at “our” CBC (equiv to the BBC, ABC, etc.) speak only about reading sucn-and-such in the Guardian (along with the NYT.and WaPo). Apparently these are their only “reliable” sources of information. Whatever will they do if the Gruaniad fails totally?

    • wert permalink
      February 2, 2017 6:36 pm

      They are forced to make a second subscription for its support.

    • Gerry, England permalink
      February 2, 2017 9:33 pm

      They could try reporting factual news….but that might be too much of a leap.

    • m e emberson permalink
      February 3, 2017 6:55 am

      This appears to be true of New Zealand. I don,t . listen to their news programmes , much except in cases of civil emergencies like large earthquakes. Many newspapers seem to belong to Fairfax. Australians I think. So I don,t read much except headlines online

      • m e emberson permalink
        February 3, 2017 6:58 am

        That is Radio New Zealand. Sorry

  25. Graeme No.3 permalink
    February 2, 2017 10:30 pm

    Perhaps The Guardian could rescue their fortunes by introducing Page 3 girls?
    After all they seem to be well behind the times.

  26. Joe Public permalink
    February 2, 2017 10:54 pm

    It’s not surprising, when they’re gullible-enough pay twice – for diametrically opposite opinions.

    • Athelstan permalink
      February 3, 2017 7:55 am

      It’s coming to a thing when Pollyanna Toynbee more and more sounds like the voice of reason over at KingsX fake news centre, honestly you need a heart of stone not to laugh long and loud and I do.

      The graun…………….What a shower of Marxist scum – they all are.

  27. February 3, 2017 8:44 am

    Good jokes but I do hope the Grauniad will pull out of this nose dive. We would miss it hugely if it disappeared! And BTW, eye-swivelling twaddle of one sort or another, seems to be the main output of many of its more right wingish UK competitors

    • Athelstan permalink
      February 3, 2017 9:01 am

      The Times vies with the graun’ in a competition to the bottom and to see who can be more ‘on message’ more pro EU and more pro Cultural Marxist, the Torygraph is no better and is losing staff nearly as quickly as is the graun. The Mail is a joke and the Express even more ridiculous than they – if memory serves…………………… have I missed any?

      Certain journalists are worth reading, but if you seek overall cogent analysis, if you seek overall objective reportage, if you seek overall accurate and up to the minute coverage, then you need not bother taking a newspaper. Observe, in the UK as in much of EUrope the ‘fourth estate’ is irrelevant and [to my mind] unfortunately fading out.

    • February 3, 2017 9:50 am

      ‘We would miss it hugely if it disappeared!’

      Which ‘we’ might that be – the so-called intelligentsia? Not the general British public obviously or they wouldn’t be in such dire straits.

  28. tom0mason permalink
    February 3, 2017 10:56 am

    Scott Trust Limited official documents at Companies House. You’ll have to pay the pay to see though…
    https://www.companiesintheuk.co.uk/ltd/the-scott-trust

Comments are closed.

%d bloggers like this: