“There’s a crisis in the industry, and the Guardian is no more immune than anyone else, but it’s a myth that we’ve plouged lunatic sums into digital,” stated Guardian Media Group editor-in-chief Alan Rusbridger. The website Guardian.co.uk has lost £20 million ($32.7 million) since 2002 according to Rusbridger.

Rusbridger wrote the financial details about the Guardian in the form of a comment on an article written by Roy Greenslade titled Murdoch’s digital news cartel will not persuade people to pay for content.

Guardian News & Media Ltd. as a whole lost £26.4 ($43.2) million to £36.8 ($60.18) million between 2008 and 2009. In July 2008, Guardian News & Media agreed to buy out technology news blog paidContent for over $30 million.