Saving Press Gazette

Posted by Allie Judson on October 30, 2006 at 10:39 AM

Great Britain's leading newspaper trade magazine, Press Gazette, has fallen into more trouble. The weekly publication focuses on Great Britain's changing newspaper industry. After being bought and re-modeled last year by Matthew Freud and Piers Morgan, Press Gazette has lost £500,000 and is up for sale again.

While Freud qnd Morgan are still looking to recieve some compensation for their investment, they aren't hopeful about finding a single buyer. However, there are some ideas regarding Press Gazette's future:

Currently the paper is looking to form a trust comprised of national and regional editors of newspapers and magazines with a shared interest in the journalism industry to buy the Press Gazette. This trust would then work to find a management team to truly run the magazine.
Many newspapers see the proposal of a trust as an investment in the industry's future. However some are skeptical about how functional the coming together of different newspapers and media executives will be under these circumstances.
Some internet sites such as MediaGuardian are seemingly filling the void the Press Gazette might leave because of the speed in which they are able to cover the industry.
The search for a trust may continue but Press Gazette is running out of time. At the moment the continuation of the weekly is in serious question without a buyer.

Source: Guardian

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