The publisher of The Herald newspaper is said to be making “lots of money”, according to quotes attributed to the president of its parent company.
Says Press Gazette, the president and chief operating officer of US-based Gannett, Gracia Martore, is reported to have said of Newsquest – its UK newspaper publishing arm, which includes The Herald in its portfolio: “Let me once and for all dispel the myth that Newsquest doesn't make money.”
Martore is further quoted, saying: “Newsquest makes a lot of money. In fact, their margin as I have said a couple times is consistent with the margin that our local US Community Publishing operations generate.
“So their margins are in the high teens to low 20s and they have consistently made money throughout the years.”