At the Press Freedom Round Table in Hyderabad, Chris Elliot, managing editor of The Guardian, said that in order for a newspaper to be of value it must have a thorough commercial strategy.
Elliot said that The Guardian, like other media outlets, must reexamine its financial models to maintain journalistic standards. He stressed that newspaper success just is not possible without a sound financial base.
He said it is also easy for newspapers to survive if they have some kind of financial partnership.
"We have to get on with doing the best we can with the resources we have," Elliot said.He added that for long term commercial success newspapers must invest in being a trusted brand.
He also discussed the anticipation and effects of libel cases on newspapers. He said the risk of losing a libel case plays a part in the deciding whether or not to publish a controversial story.
Over the next couple of months The Guardian is offering packages to journalists to cut back on its staff.
"We are looking to cut back our journalist staff between 70 and 100 through voluntary means," Elliot said. "Everyone must make some kind of cut."