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UK news publisher Reach hit by Facebook's changes

Tue, 25th Jul 2023 07:16

LONDON, July 25 (Reuters) - Britain's Reach, the publisher of the Daily Mirror and Daily Express, reported a 24% drop in first-half adjusted operating profit after it was hit by Facebook's move away from news content and a tough market for print advertising.

The company said on Tuesday it would cut costs to improve its performance in the second half, allowing it to maintain profit expectations.

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