UK print titles The Guardian and The Observer will move from the current Berliner-sized papers to a smaller tabloid format as the company moves to reduce cost.
Guardian Media Group, the owner of the mastheads’ print and digital assets, will also close the London and Manchester printing presses, shedding 50 jobs. From 2018, hard-copy editions of the papers will be printed by Trinity Mirror.
David Pemsel, the chief executive of Guardian Media Group, said the move was the logical next step for the business.
“This is an important step in our three-year transformation plan.
“More people are reading and supporting our journalism than ever before, but the print industry continues to evolve, and we must evolve with it. We plan to continue The Guardian’s record of producing bold, brilliantly designed award-winning journalism,” he said.
New face at helm of The Japan Times
Japan’s oldest English language paper, The Japan Times, has been sold to PR company News2u for an undisclosed amount.
The 120-year-old company was purchased by the Ogasawara family in 1983 as a subsidiary of manufacturing company Nifco. The sale follows the death in November 2016 of Toshiaki Ogasawara, family patriarch and Japan Times chairman and publisher.
News2u maintains the company will maintain the established editorial independence.
The sale follows a restructure trend of English titles throughout Asia.
Time to clock out for Time Magazine staffers
Time Inc, publisher of Time Magazine and Sports Illustrated, has announced it will shed 300 positions, news agency Reuters reports.
The company will cut 4 per cent of its workforce in an attempt to reduce costs as advertising revenues and circulations decline.