Rusbridger cashes in as Guardian profits plunge

Guardian editor Alan Rusbridger’s annual bonus has increased from £150,000 to £175,000 – despite ballooning losses at Guardian Newspapers.

The Guardian Media Group annual report reveals that The Guardian and Observer lost £49.9 million in the year to April – reflecting the estimated £80 million cost of relaunching both titles in Berliner format on new colour presses.

Rusbridger’s basic salary of £329,000 is up by 20 per cent from from the £272,000 figure revealed in last year’s annual report.

The bonus for Rusbridger, who is also a member of the GMG board of directors, was said to be “in recognition of his leading role in the successful launch of the new format Guardian and Observer newspapers”.

GMG made an overall pre-tax profit £66.4 million – a figure boosted by the more profitable regional newspaper and Trader Media divisions.

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