Iliffe optimistic on metered paywalls | Telegraph in limbo - sale latest
And The Irish Sun gets a new editor and deputy editor
Good morning and welcome to your daily helping of news about the world of news from Press Gazette on Tuesday, 16 January.
Iliffe Media is the latest UK news media group to report disappointing financial results.
Turnover is down 11% to £14.8m with pre-tax losses of £1.8m.
It follows similarly tough figures for Scottish regional and magazine publisher DC Thomson announced last week.
We've also recently reported on growing losses at Tortoise Media and revenue down 10% at specialist publishing giant Future.
Press Gazette's tally of reported news media job cuts for 2023 stands at 8,000.
The rear-view mirror is looking out at a scene of destruction for many news publishers.
So why, against the current economic backdrop, is RedBird IMI willing to part with £1.2bn in order to take ownership of the Telegraph (30 times its latest annual profit figure)?
The publisher's one million subscribers are one reason, offering it protection from the fickle advertising market.
The other motives for Redbird IMI's Abu Dhabi-based backers are unknown, although it seems fair to guess that some political considerations are at play.
The Telegraph is currently in limbo pending government approval for the purchase of a national newspaper by a foreign-backed entity. In case you have lost track of a saga that now involves Ofcom, George Osborne and the National Crime agency, we have a handy round-up of the latest developments here.
New from Press Gazette
Iliffe Media revenue falls 11% but paywalls offer new income stream
Editorial director Ian Carter told Press Gazette: “We are seeing very positive signs in our digital subscription growth.”
Telegraph in limbo: Latest on saga involving George Osborne, National Crime Agency and Ofcom
The latest reports suggest that former Chancellor and Evening Standard editor George Osborne is now involved and questions and whether TMG chief executive Nick Hugh will stay.
Irish Sun names deputy Fiona Wynne as next editor
Her appointment means that in addition to editor-in-chief Victoria Newton, each of the three national editions of The Sun are now led by women, with Gill Smith editing The Scottish Sun and Natalie Evans The US Sun.
Podcast 63: Political reporting in an election year with Chris Hope and Gloria De Piero
In the latest episode, Press Gazette editor-in-chief Dominic Ponsford met GB News presenting duo Gloria De Piero and Christopher Hope. They spoke about their new weekly show, PMQs Live, the future of political reporting in an election year and why they think GB News is striking a chord with viewers by offering them more of what they want.
News in brief
The Daily Mail has passed ten million followers in total across its Tiktok accounts and marked more than five billion views in the past year. (Press Gazette)
Billionaire hedge fund manager Bill Ackman has escalated his feud with Business Insider over its reporting on his wife, academic Neri Oxman, saying he intends to file a lawsuit against the Axel Springer-owned title. (Financial Times)
Iran has freed on bail two female journalists jailed for more than a year for covering the death of Mahsa Amini. (BBC News)
Donald Trump has been ordered to pay The New York Times $392,638 in costs incurred by his failed lawsuit, which was dismissed by a judge last year, accusing the paper of "an insidious plot" to obtain his tax records. (BBC News)
News Corp-owned TalkTV has revealed 130 people are prosecuted each day by for licence fee evasion. The channel warned of miscarriages of justice and likened the situation to that of sub-postmasters targeted by Post Office in Horizon IT scandal. (TalkTV)
The Daily Express says the arrest of six people over an alleged plot to disrupt the London Stock Exchange was as a result of an undercover reporter infiltrating the group and a file of evidence they passed to police. (Daily Express)
Previously on Press Gazette
Mirror editor-in-chief Alison Phillips steps down after six years
Survey suggests 37% of UK news subscribers are considering cancellation
Two-thirds of Brits follow local news, mostly via social media and TV
Journalists gain access to 16 more family courts in major boost to open justice
Legal experts say OpenAI has ‘case to answer’ in showdown with New York Times