Abstract :
My opening position is that i don´t necessarily see the future of newspapers as one or the other. We will carry on buying newspapers, that´s for sure, and if the paywall turns out to be the most viable way of making them financially sound then of course that will be a major part of the mix. But if over the next five years publishers can find another way to make newspapers pay for themselves as a vehicle to carry advertising, then we´ll probably be working with that way of doing things instead.