A rumour is going round the Telegraph newsroom that the paper is on the block for £250 million – though the mood of the Barclay brothers on this is said to be variable – they bought the group for £665 million in 2004. Multiple Telegraph sources have independently approached Guido this afternoon saying the Barclays are considering selling.
Separately Guido understands that two consortia are circling…
As The Tap gets emails from Telegraph lawyers complaining about us copying, pasting and linking to Telegraph online, now a banned activity, it would make sense for us to put in an offer for the newspaper to acquire their back catalogue, and turn the business back into profit. This would be a way we can link our efforts in a way more acceptable to the newspaper’s owners. The Telegraph losing the owners about £50 million a year, so an offer of £10 would be, I imagine, most generous.
Our strategy would be to abandon the print version of the newspaper altogether, and provide a free online service, as bit like The Tap. The whole newspaper could be put together online by six people working from home so costs would fall to about £300,000 a year. In addition, articles could be bought in from freelance journalists paying up to £500 a throw. Advertising revenue would be projected at about £20,000 a week. Bingo! a profit of about £500,000 a year, which could be used to fund trusted sources from around the world. People would flock to the new format as they could trust and believe what was being written.
Readership of newspapers is declining rapidly as it is. The dead tree press is indeed truly dead. No one believes what they publish any more, especially after the ‘Clinton’s the next President’ fiasco. They’re not just losing money. They have to wipe egg off their faces each day after breakfast, and they’re getting tired of it. The Tap could show The Telegraph how to run an online news service that attempts to find the truth, rather than than pumping out what corporations want to have published. That’s our final offer. £10. Take it or leave it.