Guardian Media Group Reports Record Readership and Reduced Losses for 2016-17
In early 2016, Guardian Media Group, the London-based parent company for The Guardian and The Observer, announced a three-year plan to cut costs by 20 percent. Just over a year into the plan, the company’s efforts seem to be paying off. In Guardian Media Group’s July 25 report for year-end financials for the 12-months ended April 2, 2017, the company reported record digital readership, increased revenue and a one-third reduction in operating losses, moving closer to its target of breaking event in 2018-19.
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