UK: Montgomery: Profits vital to newspapers' editorial quality
Posted by Liam Berkowitz on June 17, 2008 at 1:37 PM
At the International Press Institute's (IPI) world congress, David Montgomery, chief executive of the Mecom group (publishers of 300 titles in five European countries), told IPI members at a panel yesterday that though the business model of journalism is evolving, profits are still "good for the news."
Joining Montgomery at the panel - "Are profits killing the news?" - were two other newspaper executives: Michael Ringier, chairman of Ringier, a Swiss media company; and Vuslat Dogan Sabanci, chief executive of Hürriyet, an Istanbul newspaper. All three panel members objected vehemently to the idea of removing profits from newsgathering.
"We need profits to protect our freedom - whether from governments or advertisers - and to go on improving our quality, to keep up with change," Sabanci said.
The panel also predicted that journalists of the future would be autonomous, bypassing editors and publishing on their own.
"The journalist as manager determines our approach to the business," Montgomery said.
Though adamant that profits are still relevant to newspapers, Montgomery admitted that a change was inevitable: the newsprint-only business model, he said, is no longer sustainable.
Source: The Guardian
Joining Montgomery at the panel - "Are profits killing the news?" - were two other newspaper executives: Michael Ringier, chairman of Ringier, a Swiss media company; and Vuslat Dogan Sabanci, chief executive of Hürriyet, an Istanbul newspaper. All three panel members objected vehemently to the idea of removing profits from newsgathering.
"We need profits to protect our freedom - whether from governments or advertisers - and to go on improving our quality, to keep up with change," Sabanci said.
The panel also predicted that journalists of the future would be autonomous, bypassing editors and publishing on their own.
"The journalist as manager determines our approach to the business," Montgomery said.
Though adamant that profits are still relevant to newspapers, Montgomery admitted that a change was inevitable: the newsprint-only business model, he said, is no longer sustainable.
Source: The Guardian
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