[Keyword: journalism, online journalism]. That’s “more than half of its planned new product development spend,” reports Media Week, as the company “seeks to stabilise the business after announcing pre-tax losses of £49m in the last financial year.”

Chief executive Stevie Spring is quoted as saying: “Over the past two years, we spent all of our money on acquisitions to fill in gaps, but they didn’t deliver. It’s clear that our core business needed time and cash and we will be moving staff into our growth areas wherever we can.”

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Paul Bradshaw lectures on the Journalism degree at UCE Birmingham media department. He writes a number of blogs including the Online Journalism Blog, Interactive PR and Web and New Media