Britain’s Telegraph Reports Increase in Subscriptions and Earnings

Britain’s Telegraph Media Group (TMG), the newspaper publisher for sale, reported a 2% increase in subscriptions to 734,000 in 2022 and said it was confident of reaching its target of 1 million by the end of the year. The publisher of the Daily Telegraph and Sunday Telegraph said revenue for the year ending December 2022 rose 4% to £254.2m ($325.9m), boosted by digital subscriptions. Core earnings before exceptional items rose 16% to £46.8m.

Receivers Alix Partners took control of TMG and The Spectator magazine after lender Lloyds Bank placed B.UK, a holding company owned by the Barclay family, in receivership. The Barclay family, which had been unable to repay loans owed to the bank, said at the time that “discussions with Lloyds Banking Group are still ongoing” and they hoped to reach an agreement that would satisfy all parties.

Reports have said that the newspapers, which are politically influential, could be worth more than 500 million pounds. The company said on Tuesday that it expected profitability to increase further this year, despite the continued decline in print advertising revenue and inflationary pressure. ($1 = 0.7800 pounds)

(This story has not been edited by Devdiscourse staff and is automatically generated from a syndicated feed.)