Telegraaf Media Groep reports difficult year, advertising income down

Telegraaf AmsterdamThe Telegraaf Media Groep, which publishes the Telegraaf and Metro newspapers as well as owning Sky Radio and shock blog GeenStijl, posted a loss of €38m last year.

Income was down €27.5m to €514m because of falling income from sales and advertising. Chief executive Geert-Jan van der Snoek said the company, which is listed on the Amsterdam stock exchange, had a difficult year and cost-cutting had not been able to offset the reduction in income.

TMG’s flagship Telegraaf newspaper, the biggest circulation paper in the Netherlands, went tabloid last year. A 71% rise in digital subscription income and a 44% increase in combination subscriptions was unable to offset the decline in the physical paper, Van der Snoek said.

Further cost-cutting is unavoidable and more jobs will go, he said. Last year, TMG reduced its workforce by 200 to 2,260.

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