Times publisher reports pre-tax losses of £24m

Times Newspapers Limited pays out £14m to departing directors, including chief executive Tom MockridgeThe publisher of the Times and the Sunday Times has reported a pre-tax loss of £24m, as payouts to departing directors hit £14m, according to financial filings for the year to 30 June 2013.Times Newspapers Limited, the News UK subsidiary, reported that the loss was a slight year-on-year reduction from the £28.7m in 2012. In 2011, the company reported a loss of just under £12m.The total remuneration of TNL directors, including Times editor John Witherow, was £13.18m – close to double the £7.5m in 2012.The company said it paid out £14m to former directors for compensation for loss of office – departures included chief executive Tom Mockridge, who has since joined Virgin Media, and Times editor James Harding, who has joined the BBC as director of news – up from £10.8m in 2012."Compensation for loss of office has increased due to such payments being made to a greater number of directors in the current year," the company said in its financial filing.The newspapers' reported revenues were down 3.5% year on year, from £360.6m to £347.9m – two years ago revenues were £401.7m.During the year, TNL cut almost 8% of its editorial headcount, from 513 to 473 employees, with payroll costs dropping slightly from £46.5m to £45.8m.The company said it incurred £15.8m in redundancy costs during the year to 30 June. TNL said its net liabilities were £501m, with "intermediary UK parent... Continue reading at 'The Guardian'

[ The Guardian | 2013-12-18 00:00:00 UTC ]
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Los Angeles Times wins Pulitzer Prize for investigative reporting with USC gynecologist series

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[ Los Angeles Times | 2019-04-16 00:00:00 UTC ]
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S&S UK to publish 'The Mueller Report'

Simon & Schuster UK, US-based Scribner and the Washington Post will publish 'The Mueller Report' instantly as an ebook and paperback edition. Continue reading at The Bookseller

[ The Bookseller | 2019-03-01 00:00:00 UTC ]
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New York Times publisher responds to president's 'public enemy' tweet

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Egypt Turns Back Veteran New York Times Reporter

David D. Kirkpatrick was Cairo bureau chief for The New York Times between 2011 and 2015, and is the author of a recent book on the country. Continue reading at The New York Times

[ The New York Times | 2019-02-19 00:00:00 UTC ]
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'A real loss': MUP and the 'terrible' decision that rocked Australian publishing

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[ The Guardian | 2019-02-02 00:00:00 UTC ]
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Bloomberg Media's CRO thinks it's a great time to be a publisher

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[ Advertising Age | 2019-01-17 00:00:00 UTC ]
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UK Publishers’ 2018 Diversity Report: ‘More Needs To Be Done’

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Sharjah Grows As Deals Are Cut at Pre-Fair Publishing Conference

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[ Publishers Weekly | 2018-10-31 00:00:00 UTC ]
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AAP Reports August Revenue Up for Trade Publishers in the US

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Frankfurter Buchmesse’s 2018 Pre-Fair News Conference: ‘Held in Political Times’

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BBC radio presenter Bland in ‘race against time’ to publish memoir

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News Corp worldwide reports $1.4bn net loss, but paid subscriptions rise

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[ The Guardian | 2018-08-10 00:00:00 UTC ]
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[ Publishers Weekly | 2018-07-19 00:00:00 UTC ]
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