Guardian Owner Sees Higher Losses as Pace of Change Ramps Up

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by: Kate Holton | Reuters

(Reuters) – Britain’s Guardian Media Group (GMG) expects its losses to increase in the next few years as it invests to keep up with the rapid pace of change ripping through the newspaper industry, its outgoing chief executive said.

 

The owner of the Guardian, known for breaking news of widespread surveillance by the U.S. National Security Agency from the leaks of analyst Edward Snowden, said it expected to record a loss of around 30 million pounds ($45.2 million) when it reports full-year results this summer.

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