In a statement released yesterday, Mary Trammell editor in chief of the 100-year-old US paper said the new platform will “secure and enlarge the Monitor‘s role in its second century”.
The newspaper’s website currently attracts around 1.5m visitors per month; it anticipates that the move will “increase the Monitor‘s reach and impact” while “making progress towards financial sustainability”.
In the current financial year, the paper is forecast to lose $US18.9m ($AU28.2m) – the paper has required a subsidiary from the Christian Science church for most of its history.
It is projected that the switch to online will reduce the company’s operating loss to $US10.5m ($AU15.7m) by 2013, based upon a reduction in the church’s subsidiary to $US3.7m ($AU5.5m).
The newspaper’s circulation has dropped from 220,000 in the 1970s to just over 50,000 today.
Read the original article at www.printweek.com.
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