The Belfast Telegraph, which started a morning edition in 2005, is to stop producing an evening edition. The BBC reported that the paper would switch to morning editions only from this Friday.
Owned by Independent News & Media, the Belfast Telegraph reported average circulation of 53,771 in the second half of 2011, a drop of 8.1 per cent.
Newspapers can only survive as part of an overall media/business group. Individually, they are loss-makers, but can find use in promoting other (profitable) areas, as well as being used for political leverage.
They are a tool to be used within an overall business empire, but have ceased to be an empire themselves.
I thought both the Irish/Sunday Independent were very profitable in their own right.
Newspapers can only survive as part of an overall media/business group. Individually, they are loss-makers, but can find use in promoting other (profitable) areas, as well as being used for political leverage.
They are a tool to be used within an overall business empire, but have ceased to be an empire themselves.
I thought both the Irish/Sunday Independent were very profitable in their own right.
The reality In 2011 IN&M made a full year net loss of €41m after a €95m exceptional loss. Its turnover fell in 2011 by €68m from €626m to €558m. It is balance-sheet insolvent with net liabilities of €23m. It has net debt of €427m. It is worth saying that practically all of Ireland’s main media companies are currently loss-making from RTE with an expected €17m deficit in 2011, to Crosbie Holdings which publishes the Irish Examiner and Sunday Business Post to Denis O’Brien’s Communicorp and the Irish Times group – TV3 had a good year in 2010 but we await 2011 results and the company is reported to be sitting on a debt mountain which has been parked in agreement with banks. So whilst IN&M’s finances mightn’t look healthy to you, its competitors are also suffering.
The Belfast Telegraph, which started a morning edition in 2005, is to stop producing an evening edition. The BBC reported that the paper would switch to morning editions only from this Friday.
Owned by Independent News & Media, the Belfast Telegraph reported average circulation of 53,771 in the second half of 2011, a drop of 8.1 per cent.
Quote:
The Belfast Telegraph, Northern Ireland's leading newspaper, was acquired from Trinity Mirror during the year for UK£295 million.
Newspapers can only survive as part of an overall media/business group. Individually, they are loss-makers, but can find use in promoting other (profitable) areas, as well as being used for political leverage.
They are a tool to be used within an overall business empire, but have ceased to be an empire themselves.
I thought both the Irish/Sunday Independent were very profitable in their own right.
The reality In 2011 IN&M made a full year net loss of €41m after a €95m exceptional loss. Its turnover fell in 2011 by €68m from €626m to €558m. It is balance-sheet insolvent with net liabilities of €23m. It has net debt of €427m. It is worth saying that practically all of Ireland’s main media companies are currently loss-making from RTE with an expected €17m deficit in 2011, to Crosbie Holdings which publishes the Irish Examiner and Sunday Business Post to Denis O’Brien’s Communicorp and the Irish Times group – TV3 had a good year in 2010 but we await 2011 results and the company is reported to be sitting on a debt mountain which has been parked in agreement with banks. So whilst IN&M’s finances mightn’t look healthy to you, its competitors are also suffering.
The loss relates to the group rather than the 2 independent titles which I believe are still making net profit of 20%+
Newspapers can only survive as part of an overall media/business group. Individually, they are loss-makers, but can find use in promoting other (profitable) areas, as well as being used for political leverage.
They are a tool to be used within an overall business empire, but have ceased to be an empire themselves.
I thought both the Irish/Sunday Independent were very profitable in their own right.
The reality In 2011 IN&M made a full year net loss of €41m after a €95m exceptional loss. Its turnover fell in 2011 by €68m from €626m to €558m. It is balance-sheet insolvent with net liabilities of €23m. It has net debt of €427m. It is worth saying that practically all of Ireland’s main media companies are currently loss-making from RTE with an expected €17m deficit in 2011, to Crosbie Holdings which publishes the Irish Examiner and Sunday Business Post to Denis O’Brien’s Communicorp and the Irish Times group – TV3 had a good year in 2010 but we await 2011 results and the company is reported to be sitting on a debt mountain which has been parked in agreement with banks. So whilst IN&M’s finances mightn’t look healthy to you, its competitors are also suffering.
The loss relates to the group rather than the 2 independent titles which I believe are still making net profit of 20%+
We will see how long the apparent profit lasts. Circulation is nose diving year after year and currently at over 10% y-o-y, no clear digital strategy, advertising still declining and they are part of a company with unsustainable debt and unsustainable pension liabilities.
How much of the losses in the Irish media industry are caused by RTE?
As in .... does RTE drive down advertising prices etc as a result of the benefit of the licence fee funding and as a result force other media to take a hit?
How much of the losses in the Irish media industry are caused by RTE?
As in .... does RTE drive down advertising prices etc as a result of the benefit of the licence fee funding and as a result force other media to take a hit?
_________________ Some writers have so confounded society with government, as to leave little or no distinction between them; whereas they are not only different, but have different origins. Society is produced by our wants, and government by our wickedness; the former promotes our happiness Positively by uniting our affections, the latter negatively by restraining our vices. The one encourages intercourse, the other creates distinctions. The first is a patron, the last a punisher. Thomas Paine
The Sunday Business Port reports today that IN&M now have 15 million EUR in cash left from over 40 million EUR a year ago. Also, IN&M are reviewing their policy on using bulk free copies to inflate Indo and Herald circulation figures.
The Sunday Times reports that IN&M might do another rights issue later this year which will further dilute shareholders.
Joined: Sep 6, 2009 Posts: 248 Location: In the land of Menolly's fools gold
I'm no defender of the O' Reilly, Fanning and Own Arse axis in the Indo but who shall we see writing in the Sindo once Dennis O' Brien asserts control. Anyone for more Sarah Carey for example.
Neglected in all this talk is the extent to which the South Dublin newspapers, especially the Irish Times, are currently supported by the State. If you look at the IT business section on a Friday, most of the ads are from State agencies. This, I imagine, is largely due to an inflated sense of self-importance on the part of the advertiser. Then there are purchases. Most, if not all, public sector employees above a certain grade are "entitled" to a free paper every day. This despite the fact that they are all free online. I know of one small agency where 12 copies of the IT are delivered every day. I don't know how much that rag costs, but it is in the region of €2. So we get 2 x 12 = €24 a day of taxpayers money wasted in just one of our 800+ quangos. That amounts to €120 a week, or €6,240 a year. That is just under €5 million if all 800 quangos got the same amount of papers. And that excludes the Civil Service. Quite a subsidy for a paper in financial difficulties. And, at 9,600 purchases, a nice little circulation booster.
I'm no defender of the O' Reilly, Fanning and Own Arse axis in the Indo but who shall we see writing in the Sindo once Dennis O' Brien asserts control. Anyone for more Sarah Carey for example.
I'm no defender of O'Brien but I would struggle to see how the Indo could not get better rather than worse, editorially, under new management.
Amy Goodman breaks through the corporate medias lies, sound-bites, and silence in this wide-ranging new collection of articles. In place of the usual suspects, the experts who, in Goodmans words, know so little about so much, explain the world to us, and get it so wrong," this accessible, lively collection allows the voices the corporate media exclude and ignore to be heard loud and clear. From community organizers in New Orleans, to the courageous American soldiers who've said "No" to Washington's wars, to the victims of torture and police violence, we are given the extraordinary opportunity to hear ordinary people standing up and speaking out. As Willie Nelson says, "There is no one who should be more on the mainstream media, every day reminding us and giving us a glimpse of the power of one."
_________________ Some writers have so confounded society with government, as to leave little or no distinction between them; whereas they are not only different, but have different origins. Society is produced by our wants, and government by our wickedness; the former promotes our happiness Positively by uniting our affections, the latter negatively by restraining our vices. The one encourages intercourse, the other creates distinctions. The first is a patron, the last a punisher. Thomas Paine
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