View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. Archive content
November 9, 2006updated 22 Nov 2022 9:46pm

Telegraph Victoria moves costs £32m

By Press Gazette

Exceptional restructuring and office move costs pushed the Telegraph Group £12 million into the red in 2005. The first accounts filed since the Barclay brothers bought the Telegraph titles in 2004 for £625 million show that they have taken a £45.8 million hit from "exceptional costs". This breaks down as £13.6 million for the reorganisation of operations and £32.2 million for the move to new offices in Victoria, completed last month.

The creation of a new multimedia newsroom in Victoria has evidently been a huge investment for the company. Other one-off costs are attributable to redundancies last year, which included 90 journalists. Operating profit — exceptional items aside — rose two per cent to £33.7 million on turnover up 0.4 per cent to £322.8 million.

Content from our partners
MHP Group's 30 To Watch awards for young journalists open for entries
How PA Media is helping newspapers make the digital transition
Publishing on the open web is broken, how generative AI could help fix it

Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network