The Telegraph's ageing Brexiteer readership in the shires does not bode well for the paper's future
, “strong and bold in character”, is made of gin and champagne. At £24 , the cocktail is overpriced. But so is everything else at the Rivoli Bar in the Ritz, which with its gold leaf and reliefs of naked ladies is where the 1980s went to die. It is the sort of place where you might expect to see a luxuriously whiskered gent settling down with theTelegraph
any more. Between January 2014 and September 2019 the venerable newspaper’s circulation dropped by 43%, to 310,000. That is bad news for Sir Frederick and Sir David Barclay, the 85-year-old twins who own both the Ritz and the Telegraph Media Group. The brothers are looking for buyers for various bits of their empire. The Ritz, a smart London hotel where Margaret Thatcher spent her last days, is in fine fettle, turning a neat annual profit and valued in the region of £800m—not bad for a property bought for a piffling £75m in 1995.The newspaper, on the other hand, has fared less well.
The idea that a print newspaper could still be worth anything like the price the Barclays paid for it—which is reportedly what they are seeking—is optimistic. Suggestions that the Daily Mail and General Trust, which owns the
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