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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 617 |
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In June 1994 the Telegraph reacted to The Times growing market share by cutting its price, and the Independent followed. The Times responded to this by cutting its own price still further, although prices settled down at slightly higher levels after that. To some extent the third explanation has proved correct...
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To some extent the third explanation has proved correct. By July 1998 The Times`s price was 35p while the Guardian, Telegraph, and the Independent were at 45p. The Times`s sales were around 800,000, almost double what they had been just after the first gains following the outbreak of the price war. In contrast, the Independent`s sales were 210,000 less than 60% of what they were just before the price war began...
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