Richard Desmond, owner of media group Northern & Shell, has wasted no time in overhauling Express Newspapers, which he bought last week for £125 million [WAMN: 23-Nov-00].
Desmond has decided to review the newspaper group’s websites and has given their staff three options: redundancy; redeployment, or a rapid rise in profitability.
The affected sites are the Daily Express page, Sportslive, allaboutparents and companyleader, which cost £8m a year each to operate but bring in only £240,000 in ad revenue.
Desmond is looking to reduce costs to bring the group back into the black. Other schemes being considered are the launch of a Sunday edition of the Daily Star and the use of stories in fellow Northern & Shell publication OK! within the Express titles.
News source: BBC Online Business News (UK)