Is it the curse of Boris Johnson?
Long-time Johnson supporter The Telegraph (BoJo has written a highly paid column for the paper for years – famously he wrote two, one pro-Remain and one pro-Brexit and finally chose Brexit) has revealed a 94 per cent slump in before tax profits to £900,000.
Revenue fell to £271m from £278m, blamed on falling newspaper sales and the slump in print advertising. The Telegraph now has 400,000 paying online subscribers so there’s hope there.
But online revenue takes years to catch up with lost newspaper sales as the Guardian and Mail have both found although they’re further along the road than the Telegraph. Its traditional rival the Times seems to be doing better.
Inevitably there’s speculation that someone will buy the Telegraph, once valued at £600m, from owners the Barclay twins who are 85. The Mail, currently the venue for an entertaining spat about ads between current editor Geordie Grieg and long-time predecessor Paul Dacre, is tipped as a likely contender.