The Times and Sunday Times want to operate under one budget system and are asking the British government for permission to proceed accordingly. Both papers are London based and owned by Rupert Murdoch, who promised they would operate as two separate entities when he bought both newspapers in 1981. The move is currently banned under the rules imposed on both papers.
John Witherow, editor of The Times, said the cost pressures facing the newspaper industry meant the titles needed to manage their newsrooms as carefully as possible.
‘We need to stay competitive in an increasingly difficult market so that we can continue to build a sustainable future for Times journalism,’ he said in a statement on Friday.
Murdoch, who already owned the Sun and News of the World British tabloids, provided a legally binding guarantee to preserve the two broadsheets’ editorial independence when he was allowed to buy them without undergoing a competition inquiry.
The government said the proposal would be considered by Culture Secretary Jeremy Wright in a quasi-judicial manner through a fair and transparent process.
The demands of a digitally expanding clime have put major pressure on traditional Newspaper companies to stay afloat. This development is another reminder of the struggle to balance profitability and longevity.