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Daily Telegraph Expects Big Tech to Fund Newspaper Earnings

  • Operating profit jumped 25% to £33.3 million in 2021
  • No current plans for the Daily Telegraph to be sold: CEO
Updated on

Telegraph Media Group Ltd Chief Executive Officer Nick Hugh is counting on Silicon Valley to pay the British newspaper for content, which could boost growing earnings.

“I would expect there to be some form of payment from platforms on which the publishers are publishing,” Hugh said in an interview with Bloomberg about the newspaper’s 2021 earnings, published Wednesday. Operating profit jumped 25% to £33.3 million ($42 million), beating pre-pandemic numbers, while sales grew 4% to £245 million.