Scott Trust is not so cuddly
The massive job cuts at MEN Media, the Guardian Media Group’s regional publishing arm shocked many even before the axe fell even harder down south.
Coincidently, some of us were discussing how the Guardian’s new Open Platform might make money and it was suggested that being owned by the Scott Trust, ‘and not a FTSE conglomerate makes experimentation easier.’
Sadly, the Scott Trust is no charity. It primarily exists 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.’
And it is becoming increasingly clear that all else exists to generate profit, as the Guardian is a substantial loss maker. And we’ve been here before: in 2005 the Guardian itself linked cuts that included the closure of City Life to investment in its Berliner format.
Many of us have long hoped someone would break their local monopoly, because while that monopoly exists our local media is likely to be improvised in the name of Guardian.
Comments (2 comments)
Stephen,
I feel very sad for those losing their jobs
The question for me is where will the print media be when the economy has recovered?
Social media was always going to dent sales substantially. But the recession has acted as a catalyst for the changes we expected and at such a pace that it is perturbing.
For all the praise for online PR print titles such as the MEN are still powerful tools
Rob
RobArtisan / March 11th, 2009, 2:26 pm / #
I agree, but it is interesting to ask how new and social media have dented sales.
Isn’t it the case that new media is often the same content repackaged and given away free of charge? This has been successful inasmuch as it has delivered market share, but it has failed to generate enough money.
The answer is pay walls.
Stephen Newton / March 11th, 2009, 2:45 pm / #
Post a comment