i read earlier that newsquest made a £45 million profit last year. you've cut jobs.the massive news chain gannett, which owns usa today, amongst other things. why do you think you couldn't cope with the bbcjust doing a bit more local news online? well, we run a lean organisation. it's £45 million, actually. wasn't £45 million. i think it was £30 million. but yes, we are a profitable organisation, but we need to be profitable to sustain, to sustainjournalism. you know, without profits there is no sustainable model to localjournalism. we've always tried to keep our investment in local reporters. where we have made cost reductions is more in the management and production roles. 0k, alice enders, how tough is the climate for local news economically? well, there's no doubt. that the top line revenues of local news media have halved - in the last 15 years. what's a real shame is that l the bbc and local media have collaborated veryj effectively on the democracy initiative, - which has placed about 165 reporters in councils, and so on all over- the place to make local democ