Front pages of British national newspapers, each leading with a front page story of the resignation of Boris Johnson as leader of Britain's Conservative Party, are arranged for a photograph in Downing Street, the official residence of Britain's Prime Minister, in central London on July 8, 2022. - Sputnik International, 1920, 26.07.2022SubscribeInternationalIndiaPalm Paper, the British subsidiary of German firm Germany’s Papierfabrik Palm GmbH, warned in October 2021 that the energy crisis — since deepened by Western nations’ embargoes on Russian oil and gas imports — was driving the price increase.Do you think news content is getting thinner all the time? Well, now print media really is.With the cost of newsprint — the grade of paper that your daily papers are printed on — doubling across Europe in the past year, some titles are cutting their page counts to save money.Reach PLC, the news giant which owns the Mirror, Express, Star, Scottish Daily Record and 240 local and regional papers, said on Tuesday that the price of paper had reached an “all time high”, contributing to a 32 percent decline in profits and 29 percent fall in share price.Chief Executive Officer Jim Mullen conceded to Bloomberg that it was a “challenging market environment” but claimed that the general fall in newspaper circulation would counteract the price rise and reduce bills, along with efforts to hedge energy prices.“It doesn’t put any risk to the future of print,” Mullen insisted, adding: “We are committed to print.”But he said Reach PLC’s targeted acquisitions were “primarily digital,” and that income from the group’s legacy print side of the business was being invested in online media.Palm Paper, the British subsidiary of German firm Germany’s Papierfabrik Palm GmbH, warned in October last year that the energy crisis — since deepened by Western nations’ embargoes on Russian oil and gas imports — was driving the price increase.FILE - In this Aug. 5, 2019, file photo, sections of a USA Today newspaper rest together in Norwood, Mass. Gannett Co., Inc. reports earnings Thursday, Feb. 27. - Sputnik International, 1920, 16.06.2022US Newspaper Says Removed 23 Stories After Audit Finding Possible Fake Quotes, SourcesThe COVID-19 pandemic that reached the UK in early 2020 has hit the print media sector hard. Millions of former commuters who switched working from home stopped picking up newspapers or magazines on their way to work, while cash-strapped businesses cut advertising spending.The internet age has also seen a growing trend for titles to drop their print edition and go exclusively digital via websites and mobile device apps. The Independent newspaper stopped printing in 2016 — although it still publishes its lightweight sister-tile the i, aimed at students — while arts listings and review magazine Time Out announced it was doing the same in April this year.

Sourse: sputniknews.com

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