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  1. Media Business
February 15, 2016updated 16 Feb 2016 2:58pm

Times says ‘dejection’ over Independent closures ‘misplaced’

By William Turvill

The Times has told its readers: "It is our belief that print will co-exist with digital for a long time to come."

In an editorial on Saturday, the newspaper said the "dejection" of print journalists following news The Independent and Independent on Sunday newspapers are to close was "understandable, but misplaced".

The newspaper said: "Although The Times is a self-interested party, we are confident that printed newspapers have a future alongside digital content. All printed papers are having to adapt and generate new ideas.

"The economics of the industry have been transformed because advertising revenues have diverted to the internet. That places a still greater premium for a newspaper on forging strong relationships with its readers, just as a bank is a healthier business if it builds a strong base of retail customers.

"This is The Times’s business model: to attract subscribers by providing high-quality news, analysis, comment and features that readers can trust. We are neutral about whether readers enjoy this in print, online or on our tablet app.

"Long before the digital revolution, newspapers confronted the migration of news to broadcasters. Newspapers will continue to innovate in the face of the internet revolution and it is our belief that print will co-exist with digital for a long time to come. A loss of diversity in media voices is to be regretted but there is no reason for gloom about the future of newsprint."

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