2005 full year results 22 nd march 2006 www inmplc com independent news & media plc over 175 newspaper and magazine titles 128 radio stations 70 online sites 75 000 outdoor panels inm s world 1 what the papers say market confusion 2 pessimistic view strategic response newspapers are a mature product in secular decline worldwide economic growth rates pedestrian 9 focus on growing markets innovation drives future judicious investment capex for creating new opportunities colour pagination flexibility specific with underdeveloped potential price cost leadership strategy allows to perform ahead of 3 classified advertising has migrated broadband signals end is platform indifferent not exposed major us uk unique ability offer advertisers potent mix print already strong
