Global accountancy firm PriceWaterhouseCoopers yesterday issued a report urging European newspaper and consumer magazine publishers to move away from existing print-based businesses and instead pursue aggressive online strategies.

PwC [which also happens to offer online business consultancy services] claims that such a move is necessary to prosper in the modern business era: "European newspaper and consumer magazine publishing companies have many of the skills for success in the digital era, but to thrive they must be willing to cannibalise their existing businesses," the report said.

News Source: CampaignLive (UK)