Mecom gets the paywall bug in strategic reshuffle

EUROPEAN publishing group Mecom yesterday announced a strategic review that will see the company introduce a pay model across all of its platforms, including mobile and a range of iPad apps.

The scheme, which will cost the group €70m (£58.4m), will also result in job cuts and the closure of up to 65 publications. The firm runs hundreds of newspapers across Europe.

Mecom chief executive Tom Toumazis told City A.M.: “We’re modernising the group and preparing ourselves for a multi-platform business, which is key as media changes.

“There’s an acceptance among tablet and mobile users for pay, and we’ve got to be wherever our readers are.”

Toumazis said the group is likely to implement a metered model. Shares closed down 2.1 per cent at 220p.