Posted on 12/20/2007 7:15:11 AM PST by Milhous
The Virginia Gazette commercial printing operation will close at the end of January, resulting in the loss of up to 10 jobs at the Williamsburg newspaper. The Virginia Gazette and Daily Press are both owned by Tribune Company ...
The Daily Press and Gazette have had a number of small-scale layoffs over the last few years as the newspaper industry struggles with declining circulation and free Internet content.
(Excerpt) Read more at dailypress.com ...
Dec 20, 2007
Assuming the transaction happens, FitzSimons will leave the company within the next two weeks and Zell will become chairman. Some speculate Zell also will assume the CEO post.
Tribune owns 23 TV stations, the Chicago Cubs baseball team and several newspapers including the Los Angeles Times, which reported Wednesday that the planned resignation of FitzSimons should not have been a surprise.
"Under FitzSimons, Tribune has had a highly centralized management structure; Zell is known for an entrepreneurial approach," the Times reported.
Some observers also assume that layoffs will come when Zell takes over. But in announcing his intention to resign, FitzSimons said Wednesday that "the company's greatest strength has always been the talent and dedication of its 20,000 employees."
I still maintain that it won’t close, and note the prediction of “$15 per share”..which is about what I wrote here a few days ago..No way on God’s green earth investment bankers are going to spend $33 for something $15 or less..
“I still maintain that it wont close, and note the prediction of $15 per share..which is about what I wrote here a few days ago..No way on Gods green earth investment bankers are going to spend $33 for something $15 or less..”
Unless, the Clinton’s Sugar Daddy, Ron Burkel, funds the buyout with pension funds controlled by one of his fronts.
Burkel is apparently trying to buy out the National Enquirer, which leaked on the front page, the story about the Breck Girl’s love child.
Most certainly noted! A $15 target makes it a short opportunity either way even in the unlikely event that the bankers get stuck on stupid and Zell's deal goes through.
I can’t comment on the financial health of the Newspaper Co. in question, but the article is about the commercial printing division closing.
Commercial Printing is letterhead, business cards, advertising flyers, envelopes, etc. It use to be common for newspapers to maintain a commercial printing division. Maybe it still is in smaller communities.
The printing industry as a whole has been devastated by the computer, copy machine and internet over the past 25 years.
This announcement is no surprise to me. (I’m a printer)
It seems like good news for competing printers with more capabilities. :)
I remember in the 80s my husband and I used to look forward to, and tussle over, the Sunday newspaper. It seems like a lifetime ago...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.