News

Northcliffe reports 10% revenue decline

The regional newspaper division of the UK’s Daily Mail & General Trust (DMGT) is in for a challenging second half of the year due to declining ad revenue.

Northcliffe Media, which owns more than 100 regional newspapers, reported a 35% fall in operating profits to £8m in the six months to 3 April. Digital and circulation revenues also fell during the period by 2% and 6%, respectively.

In a cost saving exercise, Northcliffe has already shed 11% of its workforce this year and its future looks bleak with Martin Morgan, the chief executive of DMGT admitting that further cost reductions would be necessary.

Morgan also revealed that DMGT’s overall newspapers operations, which includes Daily Mail and Mail on Sunday face volatile and uncertain market conditions.

Martina Lacey, London