As the news emerges that The Telegraph is set to join the FT, News of the World and The Times behind the paywall, Guido is intrigued to why such a decision was made when all the evidence shows it’s not a winner. The Times has lost 95% of their online traffic, but the bad news doesn’t stop there. Since they introduced their pay-wall in June their paper sales have headed south as well:

Introducing a pay-wall was supposed to increase revenue by forcing people to buy the paper or subscribe online. Instead the decline of newspaper sales is unmitigated. There will be glum faces over in Victoria as it dawns on the hacks that soon nobody will be reading their work…