UK: Going tabloid costs The Independent 12 million
According to accounts filed at the UK's Companies House, converting The Independent to tabloid format has cost Independent News and Media over 12 million pounds sterling. Group accounts for the company show outgoings of 6.3 million in 2003 and 6.1 million last year, both related to the tabloid conversion.
Ivan Fallon, CEO of Independent News and Media in the UK, said in September that in 2005 losses on The Independent and The Independent on Sunday would be halved (to 5 million pounds sterling) and by 2006 the papers could be breaking even.
The Independent was the first British broadsheet to switch to tabloid format in September 2003; its circulation immediately increased by approximately 17% (see previous posting) but quickly reached a plateau. The Independent's circulation was at 262, 552 copies in September 2005.
Given the large cost of the redesign, it is pertinent to ask whether it was worth it?
Source: Guardian Media, Publicitas
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![Digg](http://digg.com/submit?phase=2&&url=http%3A%2F%2Fwww.editorsweblog.org%2Fnewspaper%2F2005%2F11%2Fuk_going_tabloid_costs_the_ind.php&bodytext=<p><img width="130" vspace="3" hspace="3" height="150" border="1" align="right" src="http://www.editorsweblog.org/print_newspapers/NL4IL1-4.jpg" />According to accounts filed at the UK's <strong>Companies House</strong>, converting <em>The Independent</em> to tabloid format has cost <strong>Independent News and Media </strong>over 12 million pounds sterling. Group accounts for the company show outgoings of 6.3 million in 2003 and 6.1 million last year, both related to the tabloid conversion. <br /> </p>&title=UK: Going tabloid costs The Independent 12 million){kind=link}
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