Guardian Media Group to report operating loss

LONDON - Guardian Media Group is to report an operating loss for the financial year to the end of March, the first operating loss the company has seen in years.

Guardian... part of GMG
Guardian... part of GMG

Guardian News & Media, GMG’s newspaper division that publishes The Guardian, The Observer and The Guardian’s website guardian.co.uk, will report a loss of around £35 million.

The regional newspaper division, GMG Regional Media, will see an operating profit of less than £1 million, a sharp drop on the previous financial year's operating profit of £14.3 million. In addition, GMG Radio and GMG Property will both report operating losses.

GMG is due to announce the operating loss in August when its annual report is released.