Business Policy and Strategy

This report analyzes the state of the newspaper publishing industry, including declining circulations and revenues. It explores the reasons behind these challenges, such as economic, social, technological, and competitive forces. The report also discusses strategies that companies in the publishing industry are adopting to cope with these challenges and suggests steps that The Chronicle Gazette can take to address them.

Running head: BUSINESS POLICY AND STRATEGY
Business Policy and Strategy
Name of the Student
Name of the University
Author Note

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Table of Content
1.0 Introduction – goals of the report.........................................................................................3
2.0 State of the newspaper publishing industry today................................................................3
2.1 Data on declining circulation and revenue.......................................................................3
2.2 Status of newspaper leaders, e.g., New York Times, Wall Street Journal........................5
3.0 Why newspapers are facing declining circulations and revenues........................................6
3.1 External assessment.........................................................................................................6
3.1.1 Economic forces........................................................................................................6
3.1.2 Social, cultural, demographic, and environmental forces.........................................7
3.1.3 Political, governmental and legal forces...................................................................7
3.1.4 Technological forces.................................................................................................8
3.1.5 Competitive forces...............................................................................................9
3.1.6 External Factor Evaluation (EFE) matrix...................................................................11
4. Internal assessment...............................................................................................................11
4.1 Organizational processes and structure..........................................................................11
4.2 HR capabilities...............................................................................................................12
4.3 Financial position...........................................................................................................13
4.4 Marketing/sales capabilities...........................................................................................14
4.5 Operational capabilities..................................................................................................14
4.6 Our strengths and weaknesses as a publisher.................................................................15
5. How companies in the publishing industry are adjusting their strategies to cope with the
challenges.................................................................................................................................15

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6. Steps The Chronicle Gazette might take in order to deal with the challenges.....................16
References................................................................................................................................19

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1.0 Introduction – goals of the report
There is no doubt that business industries irrespective of their type and sizes have been
dynamic in nature and major characteristics of businesses are changing in a rapid way
alongside. No business today can stick to one single approach for surviving in the market.
Marketers, entrepreneurs and even the most successful businesses today are in the rush of
applying a better and unique one. Some have effectively managed to do so, while some are
still in the race. And, publishing industry is no exception as the sector has observed a sudden
downfall indicating an alarming future. Technology advances, undoubtedly, changed the
business trends. It can be mentioned that spread and implementation of internet technology
across the globe have significantly influenced the behavioural of consumers when it comes to
reading newspapers or collecting social information. Technology has strong impact on
traditional newspaper agencies as consumers’ taste and preferences are completely changed.
Thus, the focus of this report is on how traditional newspaper publishing organization like
The Chronicle Gazette would deal with such turn in its business. Report critically analyses
the existing market positions of publishing organizations today and proposes strategies that
must help organizations to deal with the emerging trends of business.
2.0 State of the newspaper publishing industry today
2.1 Data on declining circulation and revenue
It has been identified that newspapers are fundamental part of American news landscape but
they are hit hard as many American tend to consume news digitally. The financial fortune of
industry as well as subscribers base have been in decline since the early 2008 and eve the
website audience traffic has developed for many. On the other side, Brüggemann et al.
(2016), mentioned that papers have also observed a significant drop. Holm et al. (2013)
mentioned the fact that overall U.S daily newspaper circulation in 2017 was around 31

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million for weekday as well as 34 million for Sunday which is 11% and 10% respectively
from the previous year. It has been identified that the highest decline was found in the print
circulation. It is learnt that Weekday print circulation decreased by 11%, while circulation of
Sunday decreased by 10%.
Figure 1: Estimated Circulation of U.S daily Newspaper
(Source: Holm et al. 2013)
It is learnt that even though gains of the top sellers such as New York Time as well as Wall
Street Journal did not translate into circulation for the sector for the industry as a whole- both
print and digital dropped by 8% in 2016 (journalism.org. 2019). Fan (2013) provided that the
overall gains could include a 10% of decrease in weekly and print circulation and the decline
in weekly print circulation is only 1%. On the other side, McLennan and Miles (2019)
mentioned that overall circulation dripped to 35 million but overall circulation declined to 38

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million. It has been identified that overall decline in circulation coincided with a decline of
double digits in advertising revenue for the sector as a whole. It has also been learnt that
newspaper organizations tend to suggest that advertising revenue across the sector decreased
even more sharply compared to the figure found in the recent time. On the other side,
according to the financial statements, New York Time observed a year over year decrease of
9% in advertising revenue however almost 3% rise in circulation revenue has also been there.
So, for an overall decline in revenue is around 2% (Nytimes.com. 2019).
2.2 Status of newspaper leaders, e.g., New York Times, Wall Street Journal
On the other side, due to technology advances, New York Time and The Wall Street
Journal nonetheless observed a large gains in digital circulation in the previous year. This
means that the digital circulation of New York Time is 42% and Wall Street Journal recorded
26% and these two remain at the top of the gains. It has been identified that as leading
newspapers like New York Time and The Wall Street Journal tend to give boost their overall
circulation but the industry as a whole faced a significant challenge. Sjøvaag and Helle
(2014) mentioned the fact that Financial Statement demonstrate that New York Time add
more 50,000 digital subscriptions in 2016, while another leader The Wall Street Journal
added more than 150,000 digital subscriptions and this means there is rise of 23%. On the
contrary, Sridhar, Shrihari, and Srinivasaraghavan Sriram (2015) mentioned that there are
about more than 14000 daily newspaper in Unite State and Thousands of community papers
which usually publish weekly or biweekly; however handful of papers such as The Wall
Street Journal, USA Today and the New York Time have a national print readership which
tops million and more. It has been particularly noted that almost 50 papers tend to account for
a third of circulation which is among the large city papers. It is particularly learnt that New
York Time reported the revenue increase of 6.7% in 2019, while the overall revenue growth
of competitors is around 4.6%. Doyle and Gillian (2013) mentioned the fact that Wall Street

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Journal maintained its position as nation’s newspaper by average weekday circulation. It can
be added that paper observed and weekday circulation of 2.4 million with the inclusion of
print and digital subscribers.
3.0 Why newspapers are facing declining circulations and revenues
3.1 External assessment
It has been identified that digital circulation continues to become more difficult to assess even
though the print circulation is found to be gauged. Sparks et al. (2016) mentioned that
newspaper agencies have certainly taken a dramatic steps to cut the expense as their financial
figure is found to be more going down including the quality like size of newspaper, employee
turnover, number of days of work and newspaper delivered to subscribers.
3.1.1 Economic forces
As put forward by Carson and Andrea (2015), due to technology advances of
technology, digital media are not only stealing the traditional newspaper readers. It has been
identified that over the last 10 years, revenue of the newspaper decreased by 20% and this is
exactly $16.4 billion from $47.9 billion and this decrease is a significant drop which has
strongly affected the bottom line. Hence the difference lies in the fact that Newspaper
attracted almost 8% of ad spend which is near $15 billion in 2015. However, the overall
spend of the consumers is around 2.4% of their own time with the print newspaper. In this
context, Deichmann et al. (2016) mentioned the fact that due to the increasing cost to print
and deliver newspaper to subscribers, several publishers across the world have cut down on
their print frequency, while newspapers have completely cut down the print.
3.1.2 Social, cultural, demographic, and environmental forces
It has been identified that technology has a broad and growing impact on young
people. This means due to technology advances, newspaper agencies especially those adopted

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digital platforms started to approach readers by modified content. For example the agencies
are reading the behaviour of consumers and their habits to learn about how then individuals
think and react and on the basis of such understanding, newspaper publishers are targeting
readers with their content. Guardian (2019) mentioned the fact that social media has been a
significant for all sort of news, with the inclusion of how it is conveyed and how people tend
to interpret the news on social media platforms. It is certain that audiences are now able to
record what they see and hear by posting on their walls regarding an even that just has
occurred. The large social media platforms like Facebook, Twitter often allow people to talk
each other and it is just like things happen in the real time. It is certain that due to such large
digital media platforms, people are more close to each other and they tend to interact with
one another on a frequent basis. Thereby, the opportunity and chance of sharing news on such
platforms is high. Consequently, print media is lagging behind with respect to its circulation
of news. On the other side, Guardian (2019) added the fact that digital players rely on the
advantages of this sort of shifting power market and consumer trends are relied on this
consumer trend. Consequently, they are very successful in dealing with the needs and desires
of consumers who prefer shorter and feature articles that are now presented in the most
efficient manner.
3.1.3 Political, governmental and legal forces
McLennan and Miles (2019) mentioned that behind the decrease and fall of revenue
of newspapers, the role of government is undeniable because one should consider technology
advances in the trade of newspaper. This means development of digital technology is winning
over the traditional media. However, one must have to consider who are actually backing this
technology advancement. The government welcomes the investment in technology;
government of several developed nations are investing in the development of digital media.
Barthel (2019) mentioned that things have recently gotten much worse and though digital

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subscription of Washington Post and New York Time have gone up since 2016 and the
revenue of advertising have not increased for the slow progress in print advertisement. Turow
(2013) newspaper around the nations have nearly been as successful as digital subscription at
both Washington and Time .Most of the organizations are owned by just two organizations,
which owns more than 70%, magazines associated newspapers and due to these two factors,
newspapers have become biased towards commerce. Conversely, when a newspaper tends to
publish news that go beyond government’s consent or interest are often banned or prevented
by the political parties.
3.1.4 Technological forces
Sjøvaag and Helle (2015) mentioned that no newspaper professional or reader never
have imagined that the print news would be where it is today. Technology advances plays a
great role in advancing the trends and behaviors. Doyle and Gillian (2013) mentioned that the
advent of internet, smartphone and other mobile devices as well as their growing popularity
to become an almost indispensable element of daily life have gradually changed the way
organizations run business today. Sparks et al. (2016) mentioned the fact that online content
has been one of the sources of news for several readers and particularly the people in the
younger generations.
This means in past days, customers or the readers would have their morning papers
delivered to their homes or stop by newsstand on the way to work. Presently, people
whenever feel to read or learn country or state affairs, open up their mobile devices and
smartphones. It is certain that technology provides a rapid access to information and digital
platforms are so broad that readers can compare the news items with one another with respect
to clarity and detail. McLennan and Miles (2019) mentioned that a majority of adults in US
which is 60% read and get news on social media and almost 18% do so on a very frequent
basis. Consequently, these trends have meant a steady decline in paid circulation and it is

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note that daily paid newspaper circulation has decreased by 24% which is to 40 million.
Authors of the above article stated that new digital media are doing more than just stealing
the readers.
3.1.5 Competitive forces
Porter’s five forces
Competitive rivalry: It has been identified that even though traditional print media is
speedily falling behind but it is worth mentioning that newspapers that have shifted their
focus from the traditional media to digital platforms have become successful in maintaining
and establishing their sustainability in the market. For example, according to then data
provided by the financial statement, the New York Time added more than 50,000 digital
subscriptions in last two years, while the major leader of the sector The Wall Street Journal
added more than 150,000 digital subscriptions. However, it can be added that such
competitive force are due to the gaps in the traditional media sector. Freer and Julie (2016)
mentioned that in 2000 the overall circulation accounted for 26% of New York Time revenue
but within 2014, well into the collapse of print advertising, share of circulation had increased
to 54% with the inclusion of papers’ growing digital subscription. On the other side, Turow
(2013) mentioned that the major reasons for the success of New York Time and Wall Street
Journal is that they are gradually travelling back in time to recover the subscription of first-
model that dominated the sector before 1830. Thus, it can be mentioned that competitive
rivalry in the sector is relatively high.
Supplier power: Sjøvaag and Helle (2015) mentioned that suppliers’ power in the
sector is relatively low because the whole industry is growingly adapting to digital
technology, printer manufacturers and other raw materials like inks hold a very less power.
On the other side, it can be added that suppliers’ power is relatively high when a traditional

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like The Chronicle Gazette is most likely to deal with the challenge of receiving services
from IT companies because the industry rulers have already developed a partnership with the
firms.
Buyer power: As put forward by Li and Xigen (2013) it is worth stating that buyer
power is relatively high because due to technology advances and emergence of digital
technology, buyers have free access to fresh news items . They can get the information from
free social media tools like Facebook and Twitter. Moreover, as the technology is enabling all
organizations to spread their wings in the digital platforms, readers’ choice of reading news is
also growing alongside.
Threats of substitute product: It can be mentioned that threats of substitute product
is relatively high. As stated earlier, technology has also enabled several small and medium
size publishing house and magazine owners to choose digital platforms to sell news (Doyle
and Gillian 2013). So, a reader who has subscribed to New York will not find a different
content of an event compared to a cheap news-app available online. Small and medium size
organizations are trying to use online channels to sell news across the globe. So, it is worth
stating that threats of substitute products are relatively high.
Threats of new entrants:
It can be added that threats of new entrants in the publishing sector is relatively high
because marketers are aware of the fact that cost of print media is relatively high, while in
digital media selling news and getting subscription is easy., So, a small organization with the
help of a digital framework can have access of large population (Aitamurto, Tanja, and Seth
Lewis 2013). On the other side, since the technology is rapidly developing and providing
significant opportunities to businesses governments of all developing nations are welcoming

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the small and medium size firms and even the overseas organizations for trading. So, it can be
added that threats of new entrants is relatively high.
3.1.6 External Factor Evaluation (EFE) matrix
It can be mentioned that external factors evaluation is mostly used to audit the external
factors of any business. Thus, it can be mentioned that even though then social and
technological factors are the major drivers of change in the publishing sector, it can be
mentioned that economy and political factors are worth considering. So, in a rating scale
ranging from 1 to 4, governmental factor receives 4, as government is actually backing up
those technology manufacturers to speed up the process of digital news. Thus, it can be added
that technology could dominate over all sort of forces as it has entirely changed the sector. In
fact, technology is one such driver which significantly influenced the behaviour of readers.
People started growing the habit of reading news on their mobile devices, tablets, PCs and
Notebook. However, in the EFE matrix this factor is much stronger compared to the factor of
political force which is backing the government of the nation. Thus, it can be added that
governmental and political agencies are welcoming the oversea technology based
organizations
4. Internal assessment
4.1 Organizational processes and structure
As put forward by Fan and Ying (2013), organizing like planning should be carefully
worked out and applied technique and the process could include determining what kind of
work is required to achieve and accomplish the goals. It can be mentioned that a properly
implemented organizing technique tend to result in a work environment where all team
members are aware of their duties and responsibilities. The Chronicle Gazette needs to shift
its attention from conventional print media to digital media, so all long-term and short term

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goals of the organizations should be based on towards this news shift of strategic approach.
Thus, as per the process, the first thing that organization needs to do is review its plans and
objectives. Following are the suitable objectives for The Chronicle Gazette
Reviewing plans and objectives
 To strategically adapt to digital platforms for enhancing the base of audience
So, on the basis of this objective, organization should develop its plan of digitalization. For
example, in the new fragmented newspaper market, conventional publishers must have to
make a new key decisions to continue growing as well as operating effectively. Necessarily
 The brand needs to be a consolidator of its competition
 Be a Seller
 Remain independent
Determining the work activities required to accomplish
As the market competition is relatively high and market demands are changing in a rapid
way, The Chronicle Gazette is not able deal with the pace and consequently it is lagging
behind. This means that organizational members such as the managers and supervisors are
not skilled enough to plan and shape the activities.
4.2 HR capabilities
The newspaper includes the following employees in the organization
Publisher: The publisher is the one who is responsible for the technique of newspaper
operations both marketing and editorial and here the other duties of publisher The Chronicle
Gazette are monitoring the financial strength and steady running of the paper.
Editor: The editor takes the responsibility for the content that the journal carries and
budgetary allocation to editorial activities. The publisher makes sure that the information

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content is at the standard level of the industry by reading some sections of the paper release
before they are circulated for the usage or consumption.
Photographer: The photographers presently working in The Chronicle Gazette is most
likely to take pictures during the events as well as the occurrence of scenarios that tend to
make stories to write about it. It has been identified that unlike other industry leader like New
York Time, The Chronicle Gazette has one full time photographer and it sometimes relies on
Reuters for the collection of picture of events that happen in some other states. Thus, it can be
added that this is one of the major weaknesses of the organization when because when the
sector is competitive with respect to standards and quality of reports and news such limited
workforce is a challenge to the organization.
Reporters: It has been noted that reporters are assigned to collect data information or news
that are assigned from all regions across the world, thereby, the coverage of news is relatively
high and broad. So, the assigned reporters can take pictures of events and they interview
people at the news to make the events more relevant. This process helps to collect more
relevant information. However, the competition is high in the market, and the brand needs to
focus on developing or hiring a skilled workforce –and workforce that must learn the use of
technology and management of digital platforms (chronicle.com. 2019).
4.3 Financial position
According to the financial report of 2007 to 2016, the publisher has been experiencing a
continuous decrease of revenue but the profit margin of the firm remained low. In 2014, the
organization has observed the loss of 2 million as the result and cost of heightened
competition from the on-line publishers. It is also learnt that the assets of the papers have
depreciated and financial position of the organization is not strong enough to support the
purchase of new equipment. Thus, it can be added that there has been a tendency of investors

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selling their shares at price decreased compared to the figured of initially purchased and this
has strongly reduced the value of The Chronicle Gazette by 8%. On the contrary, it can he
added that liabilities are increasing and consequently, some financial organizations are at the
loss of giving the paper an overdraft, which cites its non-script features.
4.4 Marketing/sales capabilities
Due to the technology advances and growing appearance of digital platforms, sales of print
media of The Chronicle Gazette have dropped because the readers tend find it easy to read
the news on the stated platform. It has been learnt that some of the newspapers publishing the
content online tend to provide free access to audience. Turow (2013) mentioned that
technology based applications tend to send and spread news in every minute. Some of the
newspaper, with the help of technology are now able to provide more detail picture or
information about the event by adding prominent pictures, videos and live update. So, these
were some of the major reasons that have strongly affected the sales The Chronicle Gazette.
Doyle and Gillian (2013) mentioned that due to technology advances, young citizens have
completely been taken by ‘fast trending’ news
4.5 Operational capabilities
The paper has maintained some conventional channels of distribution but this strategy is
no longer effective when it comes to producing papers to diverse readers in time. The
organization needs to enhance its capabilities about with respect to technology and its use in
the circulation of newspaper. The organization should be more concerned about the dynamic
trends of technology. This means that people want to hear about events that are more real and
relevant. This means that presentation of news is another challenge that brand must have to
consider when running operation in a competitive environment. Presently, the brand is doing
fewer advertisements which tends to range from business adverts to obituaries and its
operation are widely confined in a some emerging states like Ohio, Wisconsin. It has been

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noted that New York Time and The Washington Post have the highest market share with in
United State. Thus, it can be mentioned that due to changing market environment and
changes in the tastes and preferences. The organization needs to wok more with respect to
enhancing operational capabilities.
4.6 Our strengths and weaknesses as a publisher
Strength and Weaknesses: It has been noted that the organization has hired a number of
skilled technocrats in all their department and the organization is in the process of enhancing
their recruitment strategies but shift in the consumer demands, government’s back up towards
the digital environment have put a financial burden on the organizations. This happens
because the organizations have spent a lot of money in developing and shaping its workforce.
()mentioned that the Chronicle Gazette enjoys a state of good will especially from the
perennial readers who have remained loyal to paper in spite of whirlwind in the sector.
Nonetheless, the major weakness of the organization lacks skilled workforce with respect to
the use technology and digitalization. This means lack of energy, motivation are required to
deal with fast industrial dynamics. So, it can be mentioned that technology is rapidly
advancing but the organization is doing very little to deal with the pace.
5. How companies in the publishing industry are adjusting their strategies
to cope with the challenges
As put forward by Carson and Andrea (2015) Washington Post, The Wall Street Journal, The
New York Time and some renowned publisher like Guardian of Britain all have moved very
rapidly particularly in adjusting their papers and adapting to the trends of digitalization. All
of the competitors have embraced the online route to deliver the consumers with timely news
and throughout digitalization the papers are circulated. This means all of these Newspapers
have generated online newspaper purchasing portfolio as well as have given consumers the

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attitude on the subscription to make the readers read the papers. It has also been identified
that the stated organizations have invested more on their official website; this means taking
the advantage technology, brands have developed innovative websites to help the reader sort
the news as per their will. For example, The Washington Post in USA charges its reader a
monthly subscription price and in return the readers can read and access the website in three
websites.
Deichmann (2016) provided the data facts that average minute per visit for top 50 US
daily newspaper on the basis of circulation is about two and half minute and this could be
roughly the same as found in the previous year. It has been identified that consolidation in
print is nothing new to the market and some publications do that in the most recent time but
the most interesting part is that the way these established publications are approaching the
content according to the digital first strategy. For example, in the most recent time, The Wall
Street Journal intensified its push for the international growth with the launch of new and
developed global print and digital edition in some European and Asian regions. It is noted
that while the journal remains globally consistent in style and sections, regionally relevant
content available across each day, daily paper could be curated for readers in some separate
in European and Asian editors. It has been identified that distribution of print editions tend to
focus on some fundamental nations and cities that are closely aligned to Wall Street Journal’s
business oriented readership but revamped digital offering is most likely to offer an enhanced
mobile experience to reader across the globe.
6. Steps The Chronicle Gazette might take in order to deal with the
challenges
1.1. Short-term steps

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2. Following are some of the short terms plans that brand must have to implement to deal
with digital trend of newspapers.
3. Editorial: The brand needs to create more short-form content which is made for digital
and mobile consumption. Organization should focus on developing the use of automation
for writing article, especially for the items like sport stories as well as corporate earnings
reports. In addition, the brand needs to fill out the gaps in coverage by using wire services
as well as some licensed content.
4. Channels: Organization needs to become a force on social media platforms buy regularly
as well as distinctively posting some content and featuring like Facebook and Twitter
Snapshot.
5. Ads Sales and inventory: The organization needs to deploy targeted advertisement in
which individuals are sold and the pricing should be about the cost per action as well as
provide some robust reporting of advertising effectiveness.
6. The organization should aim for higher percentage of programmatic advertisement sales
as the most effective way to implement a smaller direct sale force.
7. Native Advertising: The brand needs to enhance more robust capabilities in enhancing
content like high advertorials.
8. Technology: Organization should focus on developing a centralized function for the
development of consumer facing applications and other technology which can be
deployed across the whole organization with limited or no modification.
8.1. Long-term steps
In a dynamic business environment, conventional publishers must have to take and
implement key decisions to continue growing as well as operating successfully.

18BUSINESS POLICY AND STRATEGY
Organizations must have to follow and implement the following steps their effective long-
term planning.
 Updating the business model: Fundamentally, the organization has to shift from
print as well as higher-priced subscription framework to a free ad-supported model
and they should look for ‘out of the box’ ways to monetize information and data and
ad technology partner alignment
 Establish a platform strategy: Organization must have to look for ways to monetize
a wider audience across several channels with an expanded eco-system
 Rethink the overall value stream as well as operating model: Organization should
break down the overall value stream as well as operating model of organization and
this could include newsroom, editorial, product, operation etc. This means the brand
needs to think what is their core? What is non-core? What can be expanded and
developed to serve additional monetization opportunities
Product and Operation: This means that brand needs to decide between digital vs non-
digital mobile first mentality and within that mobile become the most the primary delivery
channel and short term video become a fundament content format.

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