Last year the Guardian Media Group lost over £54 million, but that didn’t stop the Editor at Large Alan Rusbridger taking home a cheeky £605,000. Revenue was down from £221 million to £198.2 millon across the group. The Guardian and The Observer’s lost £38.3 million. As a result Christmas has been cancelled. Last year all the hacks were asked for a £20 contribution to the Christmas lunch, but things have got so bad that this year there is no Christmas lunch. Not even a Winterval drink…

UPDATE:

https://twitter.com/#!/riazat_butt/status/134595001693900800