Sun publisher posts £75m pre-tax loss

News Group Newspapers took charges related to the phone-hacking scandal of almost £90m in the year to 30 JuneThe parent company of the Sun and Sun on Sunday has reported a pre-tax loss of £75m in the year to 30 June, after taking charges of almost £90m in relation to the phone-hacking scandal.News Group Newspapers' pre-tax loss of £75.1m is a significant reduction on the £318m loss run up in its financial report for the year to 3 July 2012.NGN, the News UK subsidiary that published the now closed News of the World, recorded a total of £87.5m in costs described as "non-operational, one-off charges relating to allegations of voicemail interception and inappropriate payments to public officials and other related matters."The company was also hit by a £40m one-off charge in compensation paid to Johnston Press for the termination of an agreement in relation to contract printing, allowing NGN to print all of its publications in-house.The Sun publisher generated turnover of £514m, up from £493m the previous year, and spent £44m on sales and marketing.NGN said revenue growth was helped by the launch of the Sun on Sunday, which began publication in February last year, as well as cover price increases on the Monday to Friday edition of the tabloid.Within the £87.5m non-operational costs, £50m went on legal fees, a £10.2m charge for claimants' legal fees and damages and £26m for "primarily legal and professional fees" relating to the management and standards committee, responsible... Continue reading at 'The Guardian'

[ The Guardian | 2013-12-17 00:00:00 UTC ]
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Irish arm of Waterstones reveals pre-takeover losses

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PPA chief warns of looming 'penalty tax on magazine publishers'

The Royal Mail's request to increase the amount it can charge for bulk mail has been slammed as a "shortsighted" move that could cause long-term damage to the magazine business by Barry McIlheney, chief executive of the Professional Publishers Association (PPA). Continue reading at Media Week

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Challenge board: Publishers speak out during the Digiday Publishing Summit

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Cambodia's pioneering post-Khmer Rouge era Phnom Penh Post newspaper will stop print publication

The Phnom Penh Post, a newspaper founded in 1992 as Cambodia sought to re-establish stability and democracy after decades of war and unrest, says it will stop publishing a print edition this month, the latest blow to the country’s dwindling independent... Continue reading at ABC News

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U.K. Publishing Spotlight: Jessica Kingsley's Strategy for LGBTQ Publishing

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UK Publishers Open a ‘Work in Publishing’ Campaign

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Former Marvel Publisher John Nee Unveils New Multiplatform Publishing Venture

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Turner Publishing Buys Three Imprints from Mango Publishing

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The 2023 Digiday Publishing Summit Preview: How publisher needs and programmatic trends are shaping revenue, data and media

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Disney Publishing Teams with ESPN for New Publishing Imprint

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