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Important to note that the Guardian is not actually financially successful at all. They have been suffering heavy losses for years http://www.telegraph.co.uk/b
by alva 9y ago
Important to note that the Guardian is not actually financially successful at all. They have been suffering heavy losses for years
http://www.telegraph.co.uk/business/2017/02/01/heavy-losses-feared-guardian-forecasts-will-burn-90m-cash-year/ http://www.telegraph.co.uk/business/2017/02/01/heavy-losses-...
- dtf 9y agoThings have got a little better since Viner stepped in. Good take on the state of newspapers, and the particular success of the FT, from ex-editor of Guardian Peter Preston. https://www.theguardian.com/media/2017/nov/26/financial-times-glimpsing-pink-new-dawn-digital https://www.theguardian.com/media/2017/nov/26/financial-time...
- gadders 9y agoThey also make use of offshore tax structures to minimise their taxes, such as the £302m profit from selling Auto Trader magazine. https://blogs.spectator.co.uk/2016/04/will-the-guardian-now-investigate-its-own-tax-arrangements/ https://blogs.spectator.co.uk/2016/04/will-the-guardian-now-...
- walshemj 9y agoYes some what ironic given there role in the paradise papers etc newspapers and the media are always do what I say not what I or my owner does
- tclancy 9y agoFor most papers, I'd say it's safe to assume the editorial staff do not make financial decisions.
- vixen99 9y agoWhat they (the finance department) do (minimization of their tax bill) is legal and sensible and necessary for the paper's survival. If it were not and this was known to the staff, it would be no excuse morally or legally to say that the staff 'don't make these decisions'.
- deleted 9y ago[deleted]
- tome 9y agoAre the editorial staff allowed to report on the financial decisions of their owners?
- sgift 9y agoYes. If you follow the chain of articles back to its end you will find: https://www.theguardian.com/media/2008/may/03/1 https://www.theguardian.com/media/2008/may/03/1 A report by the Guardian on the very same topic.
- jimnotgym 9y ago1) The Guardian doesn't have an 'owner'as such, it is owned by a trust. 2) It did make this deal offshore but it didn't save then tax. Good links above on this
- rstoj 9y agoJust checking the references in this article. The offshore tax claim seems to be referenced to "Guido Fawkes" (https://order-order.com/ https://order-order.com/ "Guido Fawkes Blog of plots, rumours and conspiracy") which seems to be a collection of conspiracy articles about all kinds of stuffs, written by this guy: https://en.wikipedia.org/wiki/Paul_Staines https://en.wikipedia.org/wiki/Paul_Staines
- boyce 9y agoStaines is a piece of work but very well connected. Conspiracies, yes, but not conspiracy theories. He's as establishment as a libertarian blogger could hope to be in the UK.
- nailer 9y agoFawkes is a well respected media-watch type site in the UK. They're humorous, but respected - think The Register but for media.
- tspiteri 9y agoHow would offshore tax structures help them, considering they're making losses at the moment?
- gadders 9y agoIt was the profit from the sale of Auto Trader magazine.
- mrw34 9y agoThere's some further analysis of their finances and strategy in this recent piece from The Drum: http://www.thedrum.com/opinion/2017/10/26/how-the-guardian-found-800000-paying-readers http://www.thedrum.com/opinion/2017/10/26/how-the-guardian-f...