International News

LONDON, June 14 (APP/AFP) – Britain’s Guardian newspaper
is to move to a tabloid format in early 2018 as part of its “three-year transformation programme,” parent company Guardian Media Group (GMG) announced on Tuesday.
The Guardian’s sister Sunday title The Observer will also be
downsized from their shared Berliner format.
The move is part of the GMG’s three-year transformation programme
unveiled last year.
Among other goals, the programme includes restructuring the
advertising business and “reducing the business’ cost base in order to break even at operating level by 2019”.
In the financial year to the end of June 2016, GMG reported losses of
#69 million ($88 million, 78 million euros).
The cost-reduction programme also planned for 250 jobs to be cut,
including 100 in editorial.
“This is an important step in our three-year transformation plan.
More people are reading and supporting our journalism than ever before, but the print industry continues to evolve, and we must evolve with it,” David Pemsel, GMG’s chief executive said.