by Lauren Indvik
Staffers at the Guardian News & Media group in London have reportedly been told that unless the company shifts directions, it will deplete its cash reserves in the next three to five years. The company is expected to report operating losses of more than £30 million for the fiscal year ending March 31, a GNM spokesperson told Press Gazette, rivaling 2009-2010′s loss of £34.4 million. The solution, said Guardian Editor in Chief Alan Rusbridger and Andrew Miller, chief executive of parent company GNM, is to double digital revenue — which totaled £37 million in the year ending March 2010 and is expected to total £47 million for the year ending March 2011 — in the next five years by making The Guardian a “digital first” publication...[continued]
