London, Dec 17 (ANI): Britain's Guardian News and Media is planning to shrink the paper by axeing its Film and Music supplement and reducing its sport supplement to a two-days-a-week publication, as the company struggles to stem pre-tax losses of over 40 million pounds a year.
Under wide-ranging changes to be introduced in January, the company also plans to reduce the number of pages in the Guardian's flagship supplement G2, The Telegraph reports.
"As part of our digital first strategy, we have been looking in detail at how we produce our newspapers and website, and over the next few days we will be telling staff about our plans for a new, simplified production process," a spokesman said while briefing staff about the changes.
"This will be introduced in January, along with some changes to the printed Monday to Friday Guardian. The changes to the paper take account of changing patterns of readership and advertising and are based on research with our readers," the spokesman added.
According to the paper, GNM will continue producing the Guardian's sports supplement on Mondays and Saturdays, but every other day it will be folded into the main newspaper, which will itself have space squeezed due to a reduction in the number of pages.
The move comes as a part of an effort to make 25 million pounds of savings over the next five years, which is also expected to include large-scale job losses.
Last year GNM, which is propped up by the Scott Trust, went 43.8 million pounds into the red. The previous year the figure was 57.9 million pounds, the report said.
According to the paper, the embattled media firm is also considering closing the 80 million pounds printing plant it opened just six years ago, leading to further job losses. (ANI)
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