2300 British media job cuts in 7 days

From Factiva Media Blab:

AFP reports that British media groups face a growing crisis, with more than 2300 job cuts announced within the past week and hundreds more expected against the backdrop of a deepening global downturn.

Newspapers are under particular threat, as readers abandon them for online sources of news, while advertising rates drop, free papers saturate the market and the price of newsprint is expected to soar.

The industry publication Press Gazette recently estimated about 140 jobs a week have been cut in daily newspapers since July, with regional papers hardest hit.

All the national dailies have announced staff cuts, while broadcasters plan to shed thousands: 3000 at the BBC, 1000 at ITV and 150 at Channel Four.

News Corporation boss Rupert Murdoch, whose company owns The Times, The Sun and the News of the World in the UK, said the press faces a grim 12 months in Britain and Australia.

“All media companies are being tested and the year ahead will be difficult. You will see leaner operations,” said Murdoch, whose multimedia empire reported profits down 30 percent at the end of September.


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