Business news organization City AM has started turning a profit after being in administration just two years ago, reports Charlotte Tobitt of Press Gazette.
Tobitt writes, “He revealed City AM’s revenue performance this month (May 2025) has been the best since pre-pandemic October 2019.
“City AM’s revenue for the year to date is up 33% year on year – building on 12% growth in the first two months of 2024 as reported previously by Press Gazette – while the EBITDA margin performance is up between 30-70% year on year.
“Owen said that restructuring and dropping the Monday edition of the London newspaper at the start of this year (two years after stopping the Friday edition) had ‘made a big saving in terms of our cost base’ alongside improved revenue performance. There is still flexibility to produce a Monday paper on a major news day, however.
“Owen said it was ‘100% the right decision’ to close the Monday paper. ‘I was in two minds a little bit, but it’s facilitated a stronger editorial resource mix, like not having to bring in everyone on a Sunday has freed us up to, I guess, launch these products, concentrate on newsletters. It’s just the right mix right now.'”
Read more here.
