Expansión's future up in the air

The Spanish print industry finds itself at a critical point in its history. The daily newspaper Expansion quintupled its losses in 2012 as it went into the red by 31.2 million euros.

Facing plummeting sales of its print paper and struggles to make its online version profitable because of a small number of subscription customers, Expansion's earnings fell 14.2% to just 25.4 million euros.

Its business model is failing because it is stuck to the past, and management does not want to learn how to change in order to weather changes that the crisis has wrought. All Unedisa companies are struggling with the same issue, which shows that the group has lost its bearings. Will Expansión survive?