The transcripts of the official inquiry into the culture, practices and ethics of the press. More…

Property advertising has less of an impact because it's traditionally been a much lower yielding category. So yes, the same thing has happened in broad terms in terms of the decline, but the real problems for us have been with recruitment advertising. It is an interesting area because I think there's a received wisdom that it's all gone online. Now, clearly some of it has gone online. Indeed, we've been launching and buying businesses in the area of classified recruitment over the last five years, but the majority of the sorts of jobs that you'd have seen if you'd opened the pages of the Liverpool Echo or Newcastle Chronicle would be what we call everyday jobs for everyday people. They're not legal directors or finance directors; they would be jobs in the public and private sector, lower level administrative jobs in the retail sector, baggage handlers if we're near an airport, taxi drivers, hairdressers, and that has all but dried up.

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