Posted on 11/14/2019 2:50:03 PM PST by DUMBGRUNT
You think $300 million in costs cut is a big number? Try $400 million. Or more than $400 million.
Those are the internal numbers in the air as Americas two largest newspaper chains, Gannett and GateHouse, try to land their megamerger, first announced in August.
... Now, talk has gone to $400 million and beyond, into the range of nearly half a billion dollars. What does that mean? Almost certainly, even more reduction in headcount than had been anticipated...
And the company wont wait for the first of the year to begin layoffs: With immediate savings a priority, expect those anxiety-inducing conversations to begin right after Thanksgiving.
Worse, McClatchy has to deal with its ongoing pension plan problems, now negotiating a distressed termination with the federal Pension Benefit Guaranty Corporation.
Though Reed has said editorial cuts would be minimal, theres no way they can get that number without significant newsroom cuts,
...he kind of money that Fortress is walking away here with, and I know its not your doing. They brought this public in 2014 at $16 a share. The stock is $8.50, and theyre going to walk away with hundreds of millions of dollars. Its just morally wrong, and they shouldnt even take the money, given what theyve done here.
(Excerpt) Read more at niemanlab.org ...
We should love our enemies.
I will pray they repent and come to Jesus.
They can turn their lives around with Jesus. I did.
Someone around here used to post a Dinosaur Media Deathwatch pinglist.
http://www.freerepublic.com/tag/dinosaurmedia/index
This article applies.
Neither do I. I worked for an awesome company that they acquired and they literally destroyed it.
They ruined the Indianapolis Star.
Whatever happened to the Dinosaur Media Deathwatch tag?
And its sister newspaper the Arizona Republic
G-d d@mn the bright red Denver Post.
Yes, they already know how to use a keyboard...
abb was doing it.
New Media Investment Group Inc Stock Price
6.57, -0.11
But the consolidation of major media companies which has been taking place over decades (see The Media Monopoly) has like Ed to just a few companies left, and it’s very easy with so little competition to collude to present nothing but secular humanist propaganda as news.
They should chip these “journalists” when laid off, like we chip our dogs. Dont want those carrying rabies to be mingling with healthy packs.
Looks like more mediots will need to learn to code.
“But I understand most of them can use a keyboard pretty well. It should not be too hard for them to learn to code...”
Exactly. Which is why I have a new book coming out: “If You Can Type, You Can Code: New Horizons For The Unemployed With No Other Skills”
Ruined the Indy Star too.
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