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Paywall has improved business at Times, says digital chief

Earlier reports stated that the newspaper managed to convert only 14 per cent of its web readers int

News Corporation's digital chief Jonathan Miller on Friday said that the "total economics have improved" at the Times since the UK newspaper started charging for its online content since July.

Earlier this month, media reports stated that the newspaper managed to convert only 14 per cent of its web readers into subscribers.

Talking after the Business Insider Ignition conference in New York, Miller admitted that that the transition from free news site to a paid one is tough. "We'll make it, but in all honesty because we can afford to."

Although revenue from online subscribers has not yet fully replaced the decrease in advertising sales, it's on an "immediate path" to do so within a matter of months, he added.

"It's relatively on target," he told business magazine Forbes, while adding that the newspaper "has a very loyal base".