Following Boris Johnson’s flippant comment about his ‘chicken feed’ column payment (a deal earning him £250,000 a year) Sarah Ditum takes a look at the Telegraph’s financial strategy:
“The Telegraph is in the perplexing position of having both made rather a lot of money last year, and then lost even more of it buying itself out of joint ventures. And from the outside, the newsroom looks similarly financially contrary: the Telegraph appears to have invented seven sports hacks to cover up a reliance on agency copy, and yet still have the money hanging around to spend a quarter of a million hiring Boris Johnson as a columnist.”
Maybe, she ponders, for the Telegraph to agree to that kind of money, he does add ‘galactic levels of value to a masthead’.
The Mayor of London on the BBC’s HardTalk programme, in which he describes the ease of bashing out a column on a Sunday morning: