Guardian owner sees higher losses as pace of change ramps up

Reuters reporting: 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. Underlying losses at the publisher, excluding investments, are likely to remain flat at around 20 million pounds and the company said its losses will come down over time as its investments pay off....Full-year revenue to March 29 is set to rise for a third year running, up 3 percent to 215 million pounds, helped by a more than 20 percent jump in digital revenue, and its global audience has hit a record 121.7 million monthly unique browsers.But the high investment levels, required to constantly develop its platforms and journalism, reflect the pace of change by readers and advertisers who have moved online.

http://www.reuters.com/article/2015/03/09/us-guardianmediagroup-results-idUSKBN0M50KX20150309