Guardian says new tabloid format ‘important’ in turning finances around

The Guardian has today launched in a new tabloid size complete with redesigned masthead and revamped design – gone is the blue and white colour palette and in is the black and red.

In its redesign, The Guardian has created a new headline font for the paper.

David Pemsel, chief executive of Guardian Media Group, said the change to tabloid was an “important milestone” in its three-year “transformation plan” to turn its finances around and will save several million pounds.

He said the plan was “on track” and that by April 2018 the group will have halved its operating losses within two years, reducing them from £57m to £25m per year. It aims to break even in 2018/19.

He said: “The media sector remains challenging.  However, our reader revenues are growing well, and more people are reading us than ever before – we now reach over 150 million unique browsers each month and we have over 800,000 supporters.”

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