Executives at Guardian News & Media are "seriously discussing" getting rid of its print edition, says The Telegraph's Katherine Rushton, citing no sources. "Senior figures at Guardian News & Media are seriously discussing the move to an entirely online operation, it has been claimed, leaving [Editor in Chief] Mr Rusbridger increasingly isolated," she writes. The move would help the newspaper handle its financial struggles, which have amounted to over $70 million in losses per year for the company. The paper has already moved in this direction with a digital-first strategy it announced around a year ago, shrinking its editorial staff and content offerings, as the company expands its U.S. operations and other Internet offerings. The company announced layoffs in July, hoping to cut another $11 million from its editorial budget with "restructuring."
The end of print is a common rumor for media companies these days, as pretty much everyone in the business of printing magazines or newspapers seems to agree that they will stop putting their products out on paper one day in the not-too-distant-but-not-right-away future. There were similar whisperings about Newsweek and Politico's Dylan Byers made the same assertion about our own Atlantic magazine. Since, both of these rumors have been put on the back-burner, at least for now. Guardian editor Rusbridger has quickly denied the report in a tweet calling the write-up "simply untrue," accusing the Telegraph of getting its information from this blog write-up, which makes sense given Rushton's passive voice wording in her lead: "Senior figures at Guardian News & Media are seriously discussing the move to an entirely online operation, it has been claimed."
Update 10:30 a.m.: The Guardian also denies the allegations saying there is "no truth" in the Telegraph report because actually the paper makes money, in the following official statement sent to The Atlantic Wire:
There is no truth in reports that The Guardian intends to stop printing newspapers. Our newspapers generate three-quarters of our revenue and will remain the foundations of our organisation for many years to come. The management and executive of The Guardian and The Scott Trust Ltd have put in place a strategy that has enabled The Guardian to maintain its revenues and grow its audience to record levels. The Guardian is now the most read quality newspaper brand in Great Britain
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